Please use this identifier to cite or link to this item: http://hdl.handle.net/10553/53741
DC FieldValueLanguage
dc.contributor.authorLeon, R
dc.contributor.authorLeon, CJ
dc.contributor.otherSuarez, Beatriz
dc.date.accessioned2019-02-04T18:03:57Z-
dc.date.available2019-02-04T18:03:57Z-
dc.date.issued2003
dc.identifier.issn0036-9292
dc.identifier.urihttp://hdl.handle.net/10553/53741-
dc.description.abstractThis paper evaluates the performance of asymptotic approximations of the Bayes,factor to appraise the relative likelihoods of the bivariate and the restricted double bounded models for contingent valuation. The performance of the Bayes factor test is studied by Monte Carlo simulation showing that it correctly chooses the bivariate model when appropriate, but tends to over predict the double bounded model when the correlation coefficient is not estimated accurately. However, the quadratic error in estimating willingness to pay is reduced if the model preferred by the test is chosen. fit addition, we consider the effect of averaging the estimates of WTP ability. M,from both models, weighting each model with its posterior probability results show that 'model averaging' across the competing hypothesis further reduces the squared error. The applications with two data sets on National Parks show that the test rejects the restricted double bounded hypotheses against the bivariate model.
dc.publisher0036-9292
dc.relation.ispartofScottish Journal of Political Economy
dc.sourceScottish Journal Of Political Economy[ISSN 0036-9292],v. 50 (2), p. 174-188
dc.subject.otherDichotomous Choice
dc.subject.otherLikelihood
dc.subject.otherModels
dc.titleSingle or double bounded contingent valuation? A Bayesian test
dc.typeinfo:eu-repo/semantics/Article
dc.typeArticle
dc.identifier.doi10.1111/1467-9485.5002004
dc.identifier.scopus0042424760
dc.identifier.isi000183694100005
dcterms.isPartOfScottish Journal Of Political Economy
dcterms.sourceScottish Journal Of Political Economy[ISSN 0036-9292],v. 50 (2), p. 174-188
dc.contributor.authorscopusid6506528860
dc.contributor.authorscopusid7101886256
dc.description.lastpage188
dc.identifier.issue2
dc.description.firstpage174
dc.relation.volume50
dc.type2Artículo
dc.identifier.wosWOS:000183694100005
dc.contributor.daisngid4229099
dc.contributor.daisngid30512845
dc.contributor.daisngid597168
dc.identifier.investigatorRIDL-6377-2014
dc.contributor.wosstandardWOS:Leon, R
dc.contributor.wosstandardWOS:Leon, CJ
dc.date.coverdateMayo 2003
dc.identifier.ulpgces
dc.description.jcr0,385
dc.description.jcrqQ3
dc.description.ssciSSCI
item.fulltextSin texto completo-
item.grantfulltextnone-
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