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          Volume 29, Number 03, December 2004 >

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Title: Using Random Parameters to Account for Heterogeneous Preferences in Contingent Valuation of Public Open Space
Authors: Nahuelhual, Laura
Loureiro, Maria L.
Loomis, John B.
Keywords: contingent valuation
open space
random parameter logit
willingness to pay
Issue Date: 2004-12
Abstract: To test for preference heterogeneity in dichotomous choice contingent valuation responses, a random parameter logit (RPL) specification is used in this analysis. The RPL model confirms heterogeneity in respondents' preferences for protection of public open space, as reflected in statistically significant standard deviations of the normally distributed random parameters. Results show that while the majority of respondents indicate a positive willingness to pay (WTP), a minority of those surveyed report a negative WTP. Some of this variation in tastes remains even after individual characteristics and attitudinal variables are included in the model.
Institution/Association: Journal of Agricultural and Resource Economics>Volume 29, Number 03, December 2004
Total Pages: 16
Language: English
From Page: 537
To Page: 552
Collections:Volume 29, Number 03, December 2004

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