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Comparing Models for Contingent Valuation Surveys: Statistical Efficiency and the Precision of Benefit Estimates

Published online by Cambridge University Press:  10 May 2017

Timothy Park  and
John Loomis
Timothy Park
Affiliation:
Department of Agricultural Economics, University of Nebraska, Lincoln
John Loomis
Affiliation:
Division of Environmental Studies and Department of Agricultural Economics, University of California, Davis
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This paper empirically tested the three conditions identified by McConnell for equivalence of the linear utility difference model and the valuation function approach to dichotomous choice contingent valuation. Using a contingent valuation survey for deer hunting in California, two of the three conditions were violated. Even though the models are not simple linear transforms of each other for this survey, estimates of mean willingness to pay and their associated 95% confidence intervals around the mean were quite similar for the valuation methods.

Type
Articles
Information
Northeastern Journal of Agricultural and Resource Economics , Volume 21 , Issue 2 , October 1992 , pp. 170 - 176
Copyright
Copyright © 1992 Northeastern Agricultural and Resource Economics Association 

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Footnotes

University of Nebraska Agricultural Experiment Station Journal Article no. 10176.

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