Chapter

The Statistical Analysis of Discrete‐Response CV Data

Michael Hanemann and Barbara Kanninen

in Valuing Environmental Preferences

Published in print November 2001 | ISBN: 9780199248919
Published online November 2003 | e-ISBN: 9780191595950 | DOI: http://dx.doi.org/10.1093/0199248915.003.0011
 The Statistical Analysis of Discrete‐Response CV Data

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Economic theory of responses to CV survey questions is developed, set within the framework of the random utility maximization model, which generates statistical models for the survey responses. A number of statistical issues arise in the estimation of economic welfare measures from data on CV responses using the maximum likelihood method. Optimal experimental design procedures are outlined to select the bids to be used in CV surveys. Advanced topics in statistical design and the analysis of discrete choice data are presented.

Keywords: contingent ranking; discrete choice models; double‐bounded CV; hedonic utility; maximum likelihood; multiple attributes; non‐parametric models; optimal bid design; random coefficient models; random utility model; semi‐parametric models; stochastic specification; welfare measures

Chapter.  69979 words.  Illustrated.

Subjects: Economic Development and Growth

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