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| Moore, Rebecca; Bishop, Richard C.; Provencher, Bill; Champ, Patricia A.. |
| In this paper we develop an econometric model of willingness to pay that integrates data on respondent uncertainty regarding their own willingness to pay. The integration is utility consistent and does not involve calibrating the contingent responses to actual payment data, and so the approach can “stand alone”. In an application to a valuation study related to whooping crane restoration, we find that this model generates a statistically lower expected WTP than the standard CV model. Moreover, the WTP function estimated with this model is not statistically different from that estimated using actual payment data, suggesting that when properly analyzed using data on respondent uncertainty, contingent valuation decisions can simulate actual payment decisions.... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Research Methods/ Statistical Methods; Risk and Uncertainty. |
| Ano: 2009 |
URL: http://purl.umn.edu/92233 |
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| Champ, Patricia A.; Bishop, Richard C.. |
| This article discusses the results of four experiments to test the accuracy of recreational expenditures reported in survey relative to expenditures reported in dairies. We found few situations in which the reported expenditures in the surveys and diaries differ significantly. In general, we conclude that individuals are able to accurately report recreational expenditures in ex post mail surveys. Given the wide usage of survey expenditure data by economists, we find this results encouraging. |
| Tipo: Journal Article |
Palavras-chave: Resource /Energy Economics and Policy. |
| Ano: 1996 |
URL: http://purl.umn.edu/30989 |
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| Champ, Patricia A.; Moore, Rebecca; Bishop, Richard C.. |
| This paper reports on an investigation of hypothetical bias and approaches to identifying and mitigating the bias. The split sample design includes an actual donation treatment, a contingent donation treatment with a follow-up certainty question and a contingent donation treatment with cheap talk. Studies comparing contingent values to actual payments consistently find that respondents report higher willingness to pay in a hypothetical payment situation relative to an actual payment situation. While the existence of hypothetical bias has been confirmed in such studies, less attention has been focused on the nature and causes of hypothetical bias. Previous research (Champ et al. 1997, Champ and Bishop 2001) suggests that a small and potentially... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Research Methods/ Statistical Methods; Resource /Energy Economics and Policy. |
| Ano: 2004 |
URL: http://purl.umn.edu/19951 |
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| Bond, Craig A.; Champ, Patricia A.; Meldrum, James; Schoettle, Anna. |
| This paper offers a preliminary investigation into the conditions under which it might be optimal to engage in proactive management of a non-timber forest resource in the presence of an invasive species whose spread is unaffected by management action. Proactive management is defined as treating an uninfected area in order to encourage healthy ecosystem function, given that the arrival of the invasive is inevitable. Inspired by the problem of white pine blister rust in the Rocky Mountain west, the model was solved under varying assumptions concerning the scale of management action, benefit and costs, the discount rate, and uncertainty of spread. Results showed that proactive strategies tended to be optimal when, ceteris paribus, a) more resources are... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Crop Production/Industries; Resource /Energy Economics and Policy. |
| Ano: 2010 |
URL: http://purl.umn.edu/61519 |
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