Estimating willingness-to-pay with random valuation models
Estimating willingness-to-pay with random valuation models
| dc.date.accessioned | 2024-05-07T10:21:52Z | |
| dc.date.available | 2024-05-07T10:21:52Z | |
| dc.date.issued | [2004] | |
| dc.description | Benoit Laplante, Xun Wu, Craig Meisner, [et al.].- [Washington, D.C. : World Bank, 2004] : 41 p. | |
| dc.description | https://lccn.loc.gov/2004616549 | |
| dc.description | Գիրքը ՀԱԳ- ում բացակայում է։ Տվյալները՝ ԱՄՆ-ի Կոնգրեսի գրադարանից | |
| dc.description.abstract | This paper presents a case study of willingness-to-pay (WTP) estimation using random valuation models. A contingent valuation survey was conducted in Yerevan, Armenia to estimate people's WTP for the protection of Lake Sevan. Three elicitation formats - open-ended, closed-ended, and the stochastic payment card (SPC) approach - were used with split random samples. WTP models with heterogeneous errors were constructed and estimated with the survey data. The SPC approach produces a higher estimation of the mean WTP than both the open-ended and closed-ended approaches, while results from the open-ended and closed-ended elicitation formats are similar. Furthermore, contrary to research findings obtained in the United States, this study finds higher WTP estimations with mail surveys than with personal interviews. This paper - a product of the Infrastructure and Environment Team, Development Research Group is part of a larger effort in the group to understand the economics of sustainable development in developing countries | |
| dc.identifier.uri | http://dspace.nla.am/handle/123456789/10408 | |
| dc.language | English | |
| dc.pages | 41 p. | |
| dc.publication.place | [Washington] | |
| dc.publishing.house | [World Bank] | |
| dc.subject | Environmental protection-Armenia-Sevan Lake | |
| dc.title | Estimating willingness-to-pay with random valuation models | |
| dc.title.alternative | an application to Lake Sevan, Armenia | |
| dc.type | Book | |
| eperson.lastname | armenica1 |
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