Using Multiple-Scenario Contingent Valuation Data to Estimate Willingness to Pay for Restoration of Mississippi’s Barrier Islands

This research applies a novel method of non-market valuation to the case of barrier island restoration in Mississippi. The objective is to estimate peoples’ willingness to pay (WTP) for restoration to pre-Camille status (i.e., as the barriers islands existed prior to Hurricane Camille in 1969). This is accomplished by incorporating the WTP responses for the Pre-Camille status as well as WTP data from two alternative restoration scenarios. An interval censored model was used to estimate WTP and compare WTP in both the single bounded model and the novel approach. This study found that the novel method introduced here results in higher WTP estimate: WTP under the standard single bounded model is $145.74, whereas the novel approach yields a mean WTP of $204.26.


Issue Date:
2011
Publication Type:
Conference Paper/ Presentation
Record Identifier:
http://ageconsearch.umn.edu/record/98899
PURL Identifier:
http://purl.umn.edu/98899
Total Pages:
20
Note:
Replaced with revised version of paper 02/02/11.
Series Statement:
Selected Paper




 Record created 2017-04-01, last modified 2018-01-22

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