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Modelling winners and losers in contingent valuation of public goods : appropriate welfare measures and econometric analysis.
Author(s)
Date Issued
1998-08
Date Available
2011-07-25T14:12:36Z
Abstract
Contingent Valuation is now the most widely used method for valuing non-marketed goods in cost benefit analysis. Yet, despite the fact that many externalities manifest themselves as costs to some and benefits to others, most studies restrict willingness to pay (WTP) to being non-negative. This paper explores appropriate welfare measures for assessing losses and gains and demonstrates how these can be elicited explicitly. Statistical / econometric methods are presented for modelling such responses. Median WTP is estimated non-parametrically. Grouped regression / Tobit and grouped regression / hurdle models are used to identify the determinants of WTP and to estimate mean WTP.
Sponsorship
Not applicable
Type of Material
Working Paper
Publisher
University College Dublin. School of Economics
Series
UCD Centre for Economic Research Working Paper Series
WP98/12
Classification
C24
H41
Q26
Subject – LCSH
Contingent valuation
Cost effectiveness
Public goods--Econometric models
Language
English
Status of Item
Not peer reviewed
This item is made available under a Creative Commons License
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