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Conjoint Analysis of Groundwater Protection Programs

Published online by Cambridge University Press:  15 September 2016

Thomas H. Stevens ,
Christopher Barrett  and
Cleve E. Willis
Thomas H. Stevens
Affiliation:
Resource Economics, University of Massachusetts, Amherst
Christopher Barrett
Affiliation:
Resource Economics, University of Massachusetts, Amherst
Cleve E. Willis
Affiliation:
Resource Economics, University of Massachusetts, Amherst
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Abstract

Three conjoint models—a traditional ratings model, a ratings difference specification, and a binary response model—were used to value groundwater protection program alternatives. The last, which is virtually identical to a dichotomous choice contingent valuation specification, produced the smallest value estimates. This suggests that the conjoint model is very sensitive to model specification and that traditional conjoint models may overestimate economic value because many respondents are not in the market for the commodity being valued.

Type
Articles
Information
Agricultural and Resource Economics Review , Volume 26 , Issue 2 , October 1997 , pp. 229 - 236
Copyright
Copyright © 1997 Northeastern Agricultural and Resource Economics Association 

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