Journal Article

Spike Models in Contingent Valuation

Bengt Kriström

in American Journal of Agricultural Economics

Published on behalf of Agricultural and Applied Economics Association

Volume 79, issue 3, pages 1013-1023
Published in print August 1997 | ISSN: 0002-9092
Published online August 1997 | e-ISSN: 1467-8276 | DOI: http://dx.doi.org/10.2307/1244440
Spike Models in Contingent Valuation

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Spike models allow for a nonzero probability of zero willingness to pay in referendum-style contingent valuation experiments. They include many of the often used models as special cases and allow various analyses that are not possible in standard applications. In this paper, the economic rationale for the spike models and their estimation techniques are discussed, and empirical illustrations are provided. One study suggests that mean willingness to pay is zero, and both studies strongly suggest that median WTP is zero. These results have some bearing on the continuing debate of the incentive properties of hypothetical surveys and the construction of scenarios in contingent valuation experiments.

Keywords: airport traffic damages; ferry traffic damages; nonparametrics; referendum contingent valuation; spikes at zero; Q260

Journal Article.  0 words. 

Subjects: Renewable Resources and Conservation

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