Price vector effects in choice experiments
Adamowicz, V. and Hanley, N. and Wright, R.E. (2005) Price vector effects in choice experiments. Resource and Energy Economics, 27 (3). pp. 227-234. ISSN 0928-7655 (http://dx.doi.org/10.1016/j.reseneeco.2004.11.001)
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This paper investigates whether the preference and willingness-to-pay estimates obtained from the choice experiment method of estimating non-market values are sensitive to the vector of prices used in the experimental design. We undertake this test in the context of water quality improvements under the European Union's new Water Framework Directive. Using a mixed logit model, which allows for differing scale between the two samples, we find no significant impact of changing the price vector on estimates of preferences or willingness-to-pay.
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Item type: Article ID code: 6922 Dates: DateEventOctober 2005PublishedSubjects: Social Sciences > Economic Theory
Geography. Anthropology. Recreation > Environmental SciencesDepartment: Strathclyde Business School > Economics Depositing user: Strathprints Administrator Date deposited: 30 Sep 2008 Last modified: 13 Jun 2024 06:58 URI: https://strathprints.strath.ac.uk/id/eprint/6922