TITLE

Nonparametric Estimation of Mean Willingness to Pay from Discrete Response Valuation Data

AUTHOR(S)
Watanabe, Masahide
PUB. DATE
July 2010
SOURCE
American Journal of Agricultural Economics;Jul2010, Vol. 92 Issue 4, p1114
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This article develops a nonparametric method to consistently estimate mean willingness to pay (WTP) in various discrete response valuation methods. The advantage of this method is that it can consistently estimate unconditional mean WTP with astonishing ease under some assumptions of the bid distribution. In addition, we develop a method for estimating the best linear predictor for conditional mean WTP using a linear projection. This method is applicable to single-bounded and double-bounded contingent valuation, and some forms of choice experiment.
ACCESSION #
53297372

 

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