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Willingness to Pay for Biodiesel in Diesel Engines: A Stochastic Double Bounded Contingent Valuation Survey AgEcon
Jeanty, Pierre Wilner; Haab, Timothy C.; Hitzhusen, Frederick J..
The double bounded dichotomous choice format has been proven to improve efficiency in contingent valuation models. However, this format has been criticized due to lack of behavioral and statistical consistencies between the first and the second responses. In this study a split sampling methodology was used to determine whether allowing respondents to express uncertainty in the follow-up question would alleviate such inconsistencies. Results indicate that allowing respondents to express uncertainty in the follow-up question was effective at reducing both types of inconsistencies while efficiency gain is maintained.
Tipo: Conference Paper or Presentation Palavras-chave: Biodiesel; Diesel; Environmental benefits; Contingent valuation; Willingness to pay; Double bounded model; And statistical and behavioral inconsistencies; Demand and Price Analysis; Resource /Energy Economics and Policy; I18; L91; Q42; Q51; Q53.
Ano: 2007 URL: http://purl.umn.edu/9868
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Using stated preferences to estimate the environmental benefits of using biodiesel fuel in diesel engines AgEcon
Jeanty, Pierre Wilner; Hitzhusen, Frederick J..
Using biodiesel fuel to reduce emissions from diesel engines is an area of increasing interest. Many environmental benefits associated with biodiesel are not traded in markets and their estimation requires economic valuation methods applied to non-market goods and services. This paper presents the results of a contingent valuation survey conducted in 2006 in two Ohio regions to estimate willingness to pay for air pollution reduction arising from using biodiesel fuel in diesel engines. The double bounded parametric formulation was used to estimate mean WTP ranging from $157 to $457. These results yield estimated aggregate benefits ranging from $123 to $429 million and can be used as a starting point for cost-benefit analysis.
Tipo: Journal Article Palavras-chave: Biodiesel; Diesel; Air pollution; Environmental benefits; Contingent valuation; Willingness to pay; Double bounded model; Environmental Economics and Policy; Resource /Energy Economics and Policy; I18; L91; Q42; Q51; Q53.
Ano: 2007 URL: http://purl.umn.edu/48773
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