Treatment of 'don't-know' responses in contingent valuation surveys: a random valuation model
Article Abstract:
Use of referendum elicitation method called "don't-know" (DK) responses in contingent valuation (CV) surveys may be analyzed under a utility-theoretic interpretation. A DK response to the CV referendum question may be handled with the utilization of a proposed maximum likelihood procedure for estimating respondent's willingness to pay for a nonmarket good with referendum contingent valuation data that encompasses DK responses. Very close estimates of the mean WTP were derived from the two threshold approaches, Model I and Model II, which involve AML approach and DK value=1, respectively.
Publication Name: Journal of Environmental Economics and Management
Subject: Environmental services industry
ISSN: 0095-0696
Year: 1997
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Comparing three approaches that generate bids for the referendum contingent valuation method
Article Abstract:
Previous research has proposed several approaches to determine and assign bids in the referendum contingent valuation method for non-market valuation. These include the use of an open-ended pretest survey for willingness-to-pay (WTP) or willingness-to-accept estimates and the use of an iteration process to determine bid amounts and optimal allocation. Monte Carlo data suggest that an open-ended pretest survey is preferred over the other approaches, particularly when there is low variation in WTP.
Publication Name: Journal of Environmental Economics and Management
Subject: Environmental services industry
ISSN: 0095-0696
Year: 1995
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Analysis of contingent valuation data with multiple bids and response options allowing respondents to express uncertainity
Article Abstract:
The econometric modeling and response effects associated with multiple-bounded, polychotomous-choice payment, is outlined. This approach can increase the efficiency of welfare estimates, but is not free from bid design effects.
Publication Name: Journal of Environmental Economics and Management
Subject: Environmental services industry
ISSN: 0095-0696
Year: 2003
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