Identificador persistente para citar o vincular este elemento: http://hdl.handle.net/10553/48783
Título: A Bayesian approach to double bounded contingent valuation
Autores/as: León González, Carmelo Javier 
Vázquez Polo, Francisco José 
Clasificación UNESCO: 530204 Estadística económica
Palabras clave: Dichotomous Choice
Discrete
Responses
Fecha de publicación: 1998
Editor/a: 0924-6460
Publicación seriada: Environmental and Resource Economics 
Resumen: In this paper we propose a Bayesian approach to model double bounded contingent valuation data. The double bounded elicitation method is interpreted as a two tier iterated process in which the subject is allowed to have a second thought about his/her valuation for the environmental good. Prior information is modelled from the answers to the first dichotomous choice question. The model is Quasi-Bayesian (Q-B) in that the prior distribution refers to mean willingness to pay while the likelihood function refers to the proportions of a multinomial distribution. This model is applied to empirical data from a contingent valuation survey involving the valuation expressed by European tourists for access to natural areas in the Canary Islands. Results show that point estimate of consumer surplus computed with the Q-B model does not differ substantially from single bounded model estimation. In addition, double bounded seems to be quite robust to the choice of the prior model of willingness to pay responses. Comparison with open ended suggests that the Q-B model might be useful to control for strategic response and starting point biases.
URI: http://hdl.handle.net/10553/48783
ISSN: 0924-6460
DOI: 10.1023/A:1008266030455
Fuente: Environmental and Resource Economics [ISSN 0924-6460], v. 11, p. 197-215
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