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A Benefit Transfer Toolkit for Fish, Wildlife, Wetlands, and Open Space AgEcon
Loomis, John B.; Kroeger, Timm; Richardson, Leslie; Casey, Frank.
Tipo: Journal Article Palavras-chave: Resource /Energy Economics and Policy.
Ano: 2008 URL: http://purl.umn.edu/92851
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A Comparison of Actual and Hypothetical Willingness to Pay of Parents and Non-Parents for Protecting Infant Health: The Case of Nitrates in Drinking Water AgEcon
Loomis, John B.; Bell, Paul; Cooney, Helen; Asmus, Cheryl.
We estimate adults’ willingness to pay (WTP) to reduce health risks to their own or other families’ infants to test for altruism. A conjoint analysis of adults paying for bottled water found marginal WTP for reduction in risk of shock, brain damage, and mortality in the cash treatment of $2, $3.70, and $9.43, respectively. In the hypothetical market these amounts were $14, $26, and $66, indicating substantial hypothetical bias, although not unexpected due to the topic of infant health. Statistical tests confirm a high degree of altruism in our WTP results, and altruism held even when real money was involved.
Tipo: Journal Article Palavras-chave: Altruism; Conjoint; Drinking water; Nitrates; Validity; Willingness to pay; Agricultural and Food Policy; Consumer/Household Economics; Food Consumption/Nutrition/Food Safety; Health Economics and Policy; Institutional and Behavioral Economics; I10; Q53.
Ano: 2009 URL: http://purl.umn.edu/56657
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A Comparison of Actual and Hypothetical Willingness to Pay of Parents and Non-Parents for Protecting Infants' Health: The Case of Nitrates in Drinking Water AgEcon
Loomis, John B.; Asmus, Cheryl; Bell, Paul.
The objective of this research was to estimate adults' willingness to pay to reduce health risks to their or other families's infants, the latter to test for altruism. A choice experiment was conducted by having adults pay for bottled water for infants to reduce infants' exposure to nitrates in drinking water. Since nitrates only affect infants' health, we have isolated the adults' willingness to pay just for infants' health by buying bottled water to avoid infants' nitrate intake. Respondents were separated into two treatments, one with hypothetical choices, and the other where respondents were told that one of their four choices would be binding, and they would actually buy bottled water using money given to them at the beginning of the experiment....
Tipo: Conference Paper or Presentation Palavras-chave: Altruism; Conjoint; Drinking water; Validity; Willingness to pay; Health Economics and Policy.
Ano: 2007 URL: http://purl.umn.edu/9358
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A COMPARISON OF CONJOINT RATINGS AND RANKINGS: AN APPLICATION FOR PASSIVE USE VALUES OF FOREST HEALTH AgEcon
Haefele, Michelle A.; Loomis, John B..
This paper tests the equivalence of conjoint ratings and rankings to estimate the values of prevention of forest pest infestations. It was found that rankings constructed from ratings were not statistically different from actual rankings. This implies that the easier ratings format can be used in conjoint analysis.
Tipo: Conference Paper or Presentation Palavras-chave: Resource /Energy Economics and Policy.
Ano: 1999 URL: http://purl.umn.edu/35729
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A Comparison of Methodologies for Valuing Decreased Health Effects from Wildfire Smoke AgEcon
Richardson, Leslie; Loomis, John B.; Champ, Patricia A..
Wildfire seasons are becoming longer and more intense throughout the world, making it increasingly important to monetize the full damages caused by wildfires when analyzing various fire management policies. We estimate the economic costs of the health effects associated with exposure to wildfire smoke using a simple cost of illness approach and for the first time to our knowledge we estimate willingness-to-pay (WTP) for a decrease in symptom days from wildfire smoke using the contingent valuation method and the averting behavior method. Comparing estimates across all three common approaches for estimating the economic cost of exposure to an air pollutant is an important contribution to the literature. This study uses data from the largest wildfire in Los...
Tipo: Conference Paper or Presentation Palavras-chave: Averting behavior method; Contingent valuation method; Cost of illness; Wildfire smoke; Health; Morbidity; Environmental Economics and Policy; Health Economics and Policy; Q.
Ano: 2010 URL: http://purl.umn.edu/61252
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A Joint Estimation Method to Combine Dichotomous Choice CVM Models with Count Data TCM Models Corrected for Truncation and Endogenous Stratification AgEcon
Gonzalez, Juan Marcos; Loomis, John B.; Gonzalez-Caban, Armando.
We update the joint estimation of revealed and stated preference data of previously published research to allow for joint estimation of the Travel Cost Method (TCM) portion using count data models. The TCM estimation also corrects for truncation and endogenous stratification as well as overdispersion. The joint estimation allows for testing consistency of behavior between revealed and stated preference data rather than imposing it. We find little gain in estimation efficiency, but our joint estimation might make a significant improvement in estimation efficiency when the contingent valuation scenarios involve major changes in site quality not reflected in the TCM data.
Tipo: Journal Article Palavras-chave: Contingent valuation models; Joint estimation; Nonmarket valuation; Recreation; Travel cost models; Agribusiness; Demand and Price Analysis; Productivity Analysis; Q51.
Ano: 2008 URL: http://purl.umn.edu/47207
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A New Approach to Correct for Hypothetical Bias in Stated Preference Models AgEcon
Davies, Stephen P.; Loomis, John B..
Many times economists are asked to estimate the demand for new consumer goods or services for which no market data exists. Typically market researchers and economists answer this challenge using surveys that ask about intended purchases (Louviere, et al. 2000) or what has become known as stated preference (SP) data. Tying this data to revealed preference (RP), or actual behavior, has been a target in a number of studies. Simplistic calibrations have been investigated in past RP-SP studies, such as Loomis, et al. 2001. This paper offers an alternative solution that allows the magnitude of the calibration correction to vary based on Klein and Sherman's (1997) Orbit procedure. This paper extends the original Orbit procedure of Klein and Sherman by...
Tipo: Conference Paper or Presentation Palavras-chave: Research Methods/ Statistical Methods.
Ano: 2006 URL: http://purl.umn.edu/21204
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A RECREATION OPTIMIZATION MODEL BASED ON THE TRAVEL COST METHOD AgEcon
Hof, John G.; Loomis, John B..
A recreation allocation model is developed which efficiently selects recreation areas and degree of development from an array of proposed and existing sites. The model does this by maximizing the difference between gross recreation benefits and travel, investment, management, and site-opportunity costs. The model presented uses the Travel Cost Method for estimating recreation benefits within an operations research framework. The model is applied to selection of potential wilderness areas in Colorado. This example is then extended to show the model's capability in budget analysis and in planning to meet recreation targets.
Tipo: Journal Article Palavras-chave: Resource /Energy Economics and Policy.
Ano: 1983 URL: http://purl.umn.edu/32482
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A Two-Constraint AIDS Model of Recreation Demand and the Value of Leisure Time AgEcon
Larson, Douglas M.; Shaikh, Sabina L.; Loomis, John B..
Tipo: Conference Paper or Presentation Palavras-chave: Demand and Price Analysis; Labor and Human Capital.
Ano: 1997 URL: http://purl.umn.edu/35745
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An Improved Method for Calibrating Purchase Intentions in Stated Preference Demand Models AgEcon
Davies, Stephen P.; Loomis, John B..
The Orbit demand model allows the magnitude of the calibration to stated purchase intentions to vary based on the magnitude of the stated quantities. Using an empirical example of stated trips, we find that the extent of calibration varies substantially with less correction needed at small stated trips (–25%) but larger corrections at higher quantities of stated visits (–48%). We extend the Orbit model to calculate consumer surplus per stated trip of $26. Combining the calibrations in stated trips and value per trip, the Orbit model provides estimates of annual benefits from 60% to 111% less than the count data model.
Tipo: Journal Article Palavras-chave: Hypothetical bias; Orbit; Ordered probit model; Travel cost model; Recreation; Stated preference; Agribusiness; Agricultural Finance; Consumer/Household Economics; Demand and Price Analysis; Financial Economics; Food Consumption/Nutrition/Food Safety; Institutional and Behavioral Economics; Marketing; Production Economics; Productivity Analysis; Research Methods/ Statistical Methods; D12; H44; Q26; Q51.
Ano: 2010 URL: http://purl.umn.edu/100521
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APPLYING A METHOD OF PAIRED COMPARISONS TO MEASURE ECONOMIC VALUES FOR MULTIPLE GOODS SETS AgEcon
Rosenberger, Randall S.; Peterson, George L.; Loomis, John B..
A method of paired comparison is adapted for use in estimating economic measures of value. The method elicits multiple binary choices for paired items in a choice set. Probability distributions and economic values are estimated nonparametrically and parametrically. The method is applied in an experimental context with a choice set composed of four private goods and several sums of money. The sample's median value estimtes for the goods are generally not different than the market prices for these goods. People who are in the market for a good value it higher than those not in the market for the good.
Tipo: Journal Article Palavras-chave: Alternative gains; Economic valuation; Hypothetical market; Paired comparisons; Stated choice method; Research Methods/ Statistical Methods; C51; C80; D12; Q26.
Ano: 2002 URL: http://purl.umn.edu/15516
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Are High Wage Jobs Hazardous to Your Health? The Myth That Attracting Higher Paying Extractive Industry Jobs Is a Desirable Community Economic Development Strategy AgEcon
Loomis, John B.; Kerkvliet, Joe; Weiler, Stephan.
Tipo: Journal Article Palavras-chave: Community/Rural/Urban Development.
Ano: 2007 URL: http://purl.umn.edu/92859
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BROADENING THE CONCEPT AND MEASUREMENTS OF EXISTENCE VALUE AgEcon
Loomis, John B..
Recent efforts to refine the concept of existence value and to empirically measure it has led to an unnecessary narrowing of the concept of existence value. This paper uses the literature on public goods to argue that existence value is a much broader concept than proposed by several authors. Two commonly used but different empirical approaches to measuring existence values are compared and shown to lead to statistically different decompositions of total value between use and existence categories.
Tipo: Journal Article Palavras-chave: Research Methods/ Statistical Methods.
Ano: 1988 URL: http://purl.umn.edu/29068
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COMPARING MODELS FOR CONTINGENT VALUATION SURVEYS: STATISTICAL EFFICIENCY AND THE PRECISION OF BENEFIT ESTIMATES AgEcon
Park, Timothy A.; Loomis, John B..
This paper empirically tested the three conditions identified by McConnell for equivalence of the linear utility difference model and the valuation function approach to dichotomous choice contingent valuation. Using a contingent valuation survey for deer hunting in California, two of the three conditions were violated. Even though the models are not simple linear transforms of each other for this survey, estimates of mean willingness to pay and their associated 95% confidence intervals around the mean were quite similar for the valuation methods.
Tipo: Journal Article Palavras-chave: Resource /Energy Economics and Policy.
Ano: 1992 URL: http://purl.umn.edu/29009
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COMPARISON OF ENVIRONMENTAL QUALITY-INDUCED DEMAND SHIFTS USING TIME-SERIES AND CROSS-SECTION DATA AgEcon
Loomis, John B.; Cooper, Joseph C..
Almost all applications of the Travel-Cost-Method demand function which include site quality variable(s) are multisite models. The results of this study serve as a note of warning that using the demand equation derived from multisite cross-sectional data to perform a benefit-cost analysis of changes in quality at a single site may not accurately predict the resulting change in the number of trips to that site. In this situation, estimates of the benefits of quality improvements may be unreliable.
Tipo: Journal Article Palavras-chave: Demand and Price Analysis; Environmental Economics and Policy; Resource /Energy Economics and Policy.
Ano: 1990 URL: http://purl.umn.edu/32508
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Dealing with Preference Uncertainty: A Mixture Model Approach AgEcon
Loureiro, Maria L.; Loomis, John B..
In the current paper, we compare alternative approaches to incorporating uncertainty into the statistical analysis of dichotomous choice responses. In doing so, first we employ previous modelling techniques that included uncertainty of preferences, and secondly we compare the obtained results with those coming from a novel approach here developed, a finite mixture model. The finite mixture model is a very flexible framework used to deal with preference uncertainty. Our case study uses data gathered in the Prestige oil spill valuation study from Spain.
Tipo: Conference Paper or Presentation Palavras-chave: Demand and Price Analysis.
Ano: 2007 URL: http://purl.umn.edu/10003
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Did the Great Recession Reduce Visitor Spending and Willingness to Pay for Nature Based Recreation? Evidence from 2006 and 2009 AgEcon
Loomis, John B.; Keske, Catherine M.; Lohman, Greta.
AAEA 2010 POSTER
Tipo: Conference Paper or Presentation Palavras-chave: Visitor Expenditures; Recreation; Contingent valuation; Hiking; Colorado; Environmental Economics and Policy.
Ano: 2010 URL: http://purl.umn.edu/60825
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Do CVM Welfare Estimates Suffer from On-Site Sampling Bias? A Comparison of On-Site and Household Visitor Surveys AgEcon
Gonzalez-Sepulveda, Juan Marcos; Loomis, John B..
The problem of endogenous stratification associated with on-site sampling has been overlooked in the Contingent Valuation Method (CVM). We find that using on-site samples of visitors overstates visitor willingness to pay (WTP) estimates relative to a household sample of visitors, and substantially overstates the unconditional population values. We provide two methods of correcting WTP of on-site samples. The uncorrected on-site sample CVM yields WTP of $132 per trip, while visitor WTP obtained from a random sample of households had a value of $66 per trip. Adaptation of choice-based sampling correction estimator to the on-site CVM data yields $73 per trip, not statistically different from the visitor value from the household survey, but significantly...
Tipo: Journal Article Palavras-chave: Contingent valuation method; Endogenous stratification; On-site sampling bias; Environmental Economics and Policy.
Ano: 2010 URL: http://purl.umn.edu/95610
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ECONOMIC BENEFITS OF CRITICAL HABITAT FOR THE MEXICAN SPOTTED OWL: A SCOPE TEST USING A MULTIPLE-BOUNDED CONTINGENT VALUATION SURVEY AgEcon
Loomis, John B.; Ekstrand, Earl.
A split-sample design is used to test for a difference between mean willingness to pay (WTP) for protecting the Mexican spotted owl versus protecting 62 threatened/endangered species which includes the Mexican spotted owl. The multiple bounded contingent valuation method is used in a mail survey of U.S. residents. The mean WTP amounts are statistically different at the 0.1 confidence level indicating the multiple-bounded mail survey passes the scope test. The range of estimated benefits of preserving the 4.6 million acres of critical habitat for the Mexican spotted owl substantially outweighs the costs of the recovery effort.
Tipo: Journal Article Palavras-chave: Environmental Economics and Policy.
Ano: 1997 URL: http://purl.umn.edu/30847
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ECONOMIC EFFICIENCY ANALYSIS, BUREAUCRATS, AND BUDGETS: A TEST OF HYPOTHESES AgEcon
Loomis, John B..
Economic efficiency has become more visible in national forest plans because of new planning regulations implemented by the Reagan administration. This paper investigates economic efficiency analyses and whether such information influences U.S. Forest Service decisions. The findings indicate that there are substantial errors in estimates of the net present value of wilderness and that there is no association between the sign of net present value and decision makers’ recommendations about wilderness designation. These findings are consistent with the hypothesis that an economic efficiency information requirement will not insure its use in decision making unless the incentives facing managers change.
Tipo: Journal Article Palavras-chave: Resource /Energy Economics and Policy.
Ano: 1987 URL: http://purl.umn.edu/32475
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