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Agricultural and Resource Economics Review >
Volume 39, Number 1, February 2010 >
Please use this identifier to cite or link to this item:
http://purl.umn.edu/59332
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| Title: | Sensitivity of WTP Estimates to Definition of ‘Yes’: Reinterpreting Expressed Response Intensity |
| Authors: | Kobayashi, Mimako
Rollins, Kimberly S.
Evans, M.D.R. |
| Authors (Email): | Rollins, Kimberly (krollins@cabnr.unr.edu) |
| Keywords: | contingent valuation
Great Basin
invasive weeds
land management
polychotomous
format
response intensity
response mapping
wildfire |
| Issue Date: | 2010-02 |
| Abstract: | Willingness to pay (WTP) estimation typically involves some strategy for mapping nondichotomous contingent valuation (CV) responses onto a dichotomous yes/no dependent
variable. We propose a new approach to selecting which responses qualify as ‘yes.’ We apply the proposed method to polychotomous CV data for preventative land management programs in the Great Basin. We also estimate WTP using other methods of response recoding found in the literature. By contrasting the results under different approaches, we demonstrate how and why WTP point estimates vary across recoding methods and discuss the comparative advantages of our more generalized recoding approach that is based on predicted probabilities of ‘yes’ responses. |
| URI: | http://purl.umn.edu/59332 |
| Institution/Association: | Agricultural and Resource Economics Review>Volume 39, Number 1, February 2010 |
| Total Pages: | 19 |
| From Page: | 37 |
| To Page: | 55 |
| Collections: | Volume 39, Number 1, February 2010
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Files in This Item:
| File |
Description |
Size | Format |
|---|
| ARER 39-1 37-55 Rollins.pdf | | 554Kb | PDF | View/Open |
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