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Title: Comparing dichotomous choice models using truncated welfare estimates
Authors: León González, Carmelo Javier 
UNESCO Clasification: 531201 Agricultura, silvicultura, pesca
530202 Modelos econométricos
Keywords: Attitudes
Decision making
Environmental protection
Islands, et al
Issue Date: 1996
Journal: Journal of Forest Economics 
Abstract: The purpose of this paper is to compare general and truncated welfare measures for single and double bounded dichotomous choice contingent valuation using data from an empirical example. The case study involves the bene-fits resulting from preservation of the landscape of a group of natural parks located in the higher areas of Gran Canaria (Canary Islands). Results show that double bounded leads to more conservative estimates than single bounded for general welfare measures. However, normalized truncated welfare measu-res for the mean and the median reduce the divergences between single and double bounded welfare estimates and tend to produce more efficient results, especially if the distribution assumption for willingness to pay is lognormal.
ISSN: 1104-6899
Source: Journal of Forest Economics [ISSN 1104-6899], v. 2 (1), p. 31-53, (Enero 1996)
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