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| Campbell, Danny; Hutchinson, W. George; Scarpa, Riccardo. |
| Reported in this paper are the findings from two discrete choice experiments that were carried out to address the value of a number of farm landscape improvement measures within the Rural Environment Protection (REP) Scheme in Ireland. Image manipulation software is used to prepare photorealistic simulations representing the landscape attributes across three levels to accurately represent what is achievable within the Scheme. Using a mixed logit specification willingness to pay (WTP) distributions based on the parameter estimates obtained from the individual conditional distributions are derived. These estimates are subsequently adjusted and combined to account for baselines and levels of improvement resulting from the implementation of the REP Scheme.... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Environmental Economics and Policy. |
| Ano: 2006 |
URL: http://purl.umn.edu/12220 |
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| Cockerill, C.A.; Chilton, S.M.; Hutchinson, W. George. |
| A number of studies have tested economic models of household decision-making, yet there is no consensus regarding which is most appropriate for practical application. One area where the choice of household decision model has potentially important implications is the valuation of child health or safety. Few child health valuation studies have investigated household decision-making models, typically adopting the simplifying unitary model. This study aims to determine the implications of household decision making models on the magnitude of a child safety premium. To achieve this, a stated preference survey is conducted amongst farm households in Northern Ireland to ascertain mothers and fathers individual preferences regarding the value of reducing the risk... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Consumer/Household Economics; Farm Management. |
| Ano: 2007 |
URL: http://purl.umn.edu/7983 |
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| Campbell, Danny; Hutchinson, W. George; Scarpa, Riccardo. |
| In discrete choice experiments respondents are generally assumed to consider all of the attributes across each of the alternatives, and to choose their most preferred. However, results in this paper indicate that many respondents employ simplified lexicographic decision-making rules, whereby they have a ranking of the attributes, but their choice of an alternative is based solely on the level of their most important attribute(s). Not accounting for these simple decision-making heuristics introduces systemic errors and leads to biased point estimates, as they are a violation of the continuity axiom and a departure from the use of compensatory decision-making. In this paper the implications of lexicographic preferences are examined. In particular, using a... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Environmental Economics and Policy; Resource /Energy Economics and Policy. |
| Ano: 2006 |
URL: http://purl.umn.edu/12224 |
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