Data/hora: 16/06/2024 10:25:24

Provedor de dados: | 31
País: | United States
Título: | Fuzzy Logic and Preference Uncertainty in Non-market Valuation
Autores: | Sun,   Lili; van Kooten,   G. Cornelis.
Data: | 2008-06-09
Ano: | 2005
Palavras-chave: | Random utility maximization and fuzzy logic; Contingent valuation and preference uncertainty; C-means clustering; Forest conservation; Environmental Economics and Policy; Q51; C35.
Resumo: | In seeking to value environmental amenities and public goods, individuals often have trouble trading off the (vague) amenity or good against a monetary measure. Valuation in these circumstances can best be described as fuzzy in terms of the amenity valued, perceptions of property rights, and the numbers chosen to reflect values. In this paper, we apply fuzzy logic to contingent valuation, employing a fuzzy clustering approach for incorporating preference uncertainty obtained from a follow-up certainty confidence question. We develop a Fuzzy Random Utility Maximization (FRUM) framework where the perceived utility of each individual is fuzzy in the sense that an individual’s utility belongs to each cluster to some degree. The model is then applied to a Swedish survey that elicited residents’ willingness to pay for enhanced forest conservation. The results from fuzzy models are generally ‘better’ than those obtained using the traditional random utility framework.
Tipo: | Working or Discussion Paper
Idioma: | Inglês
Identificador: | http://purl.umn.edu/37021

Relação:

University of Victoria&gt;Resource and Environmental Economics and Policy Analysis Research Group&gt;Working Papers

REPA Working Paper

2005-11

Formato: | 33