Applied Economics Letters · 2004 · 13 citations · 14 references
Natural ResourcesAgricultural EconomicsEconomicsEconometricsChoice ModelingContingent ValuationStated Preference MethodsUtility Elicitation MethodsUtility TheoryWillingness To PayExogenous Variable SpecificationFunctional Form SelectionFunctional Form SensitivityVariable SpecificationWillingness-to-pay Elicitation
This paper evaluates income variable specification and functional form issues in contingent-valuation studies using the utility-theoretic approach. Applying data from a study of willingness to pay for irradiated beef, results suggest that functional form does affect the estimates, but variable specification does not introduce statistically significant differences.
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