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Exploring the determinants of uncertainty in contingent valuation surveys
Department of Forest Economics, Centre for Environmental and Resource Economics, Swedish University of Agricultural Sciences, 90183 Umeå, Sweden.
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2014 (English)In: Journal of Environmental Economics and Policy, ISSN 2160-6544, E-ISSN 2160-6552, Vol. 3, no 2, 186-200 p.Article in journal (Refereed) Published
Abstract [en]

This paper uses the interval data model to explore the determinants of uncertainty in two-way payment ladder and in multiple-bounded uncertainty choice surveys. It estimates the uncertainty function that relates the size of the willingness-to-pay range to explanatory variables, where one of them is a proxy of the actual willingness-to-pay. The combination of the interval data model and the inclusion of the proxy variable present some advantages over the ordinary least square estimations currently used in the literature. In particular, it reduces the risk of the omitted variable bias and it takes into account that the dependent variable is not fully observed.

Place, publisher, year, edition, pages
2014. Vol. 3, no 2, 186-200 p.
Keyword [en]
contingent valuation, multiple-bounded uncertainty choice, two-way payment ladder, uncertainty, C5, C93, Q51
National Category
Economics
Identifiers
URN: urn:nbn:se:umu:diva-100741DOI: 10.1080/21606544.2013.876941OAI: oai:DiVA.org:umu-100741DiVA: diva2:793889
Note

Published online: 27 Jan 2014

Available from: 2015-03-09 Created: 2015-03-09 Last updated: 2017-12-04Bibliographically approved

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Kriström, BengtBrännlund, Runar

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