Parametric and Semi-Nonparametric Estimation of Willingness-To-Pay in a Contingent Valuation Framework

John Crooker and Joseph Herriges

Staff General Research Papers Archive from Iowa State University, Department of Economics

Abstract: Standard procedures for extracting willingness-to-pay (WTP) from dichotomous choice CV questionnaires rely heavily upon parametric assumptions regarding the distribution and form of WTP in the sampled population. However, theory provides little guidance regarding which parametric specification to use and the resulting WTP estimates can be sensitive to the selections made. Here we compare and contrast several parametric and semi-nonparametric estimators that have been proposed in the literature, examining the sensitivity of the resulting WTP estimates to the underlying distribution of preferences and the estimation procedure employed.

Date: 2004-01-01
References: Add references at CitEc
Citations: View citations in EconPapers (29)

Published in Environmental and Resource Economics 2004, vol. 27 no. 4, pp. 451-480

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:isu:genres:11156

Access Statistics for this paper

More papers in Staff General Research Papers Archive from Iowa State University, Department of Economics Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070. Contact information at EDIRC.
Bibliographic data for series maintained by Curtis Balmer ().