This paper presents a case study of willingness-to-pay (WTP) estimation using random valuation models. A contingent valuation survey was conducted in Yerevan, Armenia to estimate people's WTP for the protection of Lake Sevan. Three elicitation formats-open-ended, closed-ended, and the stochastic payment card (SPC) approach-were used with split random samples. WTP models with heterogeneous errors were constructed and estimated with the survey data...
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ПОДРОБНАЯ ИНФОРМАЦИЯ
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2004/08/01
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Рабочий документ в рамках исследования вопросов политики
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WPS3367
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1
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1
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2010/07/01
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Estimating willingness-to-pay with random valuation models : an application to Lake Sevan, Armenia
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