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USE OF CHAMBERLAIN FIXED EFFECTS APPROACH TO ESTIMATE WILLINGNESS-TO-PAY FOR LITTLE TENNESSEE RIVER BASIN MANAGEMENT ALTERNATIVES AgEcon
Bergstrom, John C.; Holmes, Thomas P.; Huszar, Eric; Kask, Susan B.; Volinskiy, Dmitriy.
The paper discusses an application of Chamberlain's fixed effects model to contingent valuation method survey data obtained for eight management alternatives for the Little Tennessee River basin. The advantages of using this approach versus cross-sectional logit, pooled logit, and cross-sectional logit with lags are discussed and a technique to obtain willingness-to-pay estimates from estimated coefficients is offered. Drawbacks of using Chamberlain's fixed effects model, difficulties encountered, and directions for further research are presented.
Tipo: Conference Paper or Presentation Palavras-chave: Environmental Economics and Policy.
Ano: 2003 URL: http://purl.umn.edu/35195
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ESTIMATING THE LOCAL ECONOMIC BENEFITS OF RIPARIAN ECOSYSTEM RESTORATION USING ITERATED CONTINGENT VALUATION AgEcon
Holmes, Thomas P.; Bergstrom, John C.; Huszar, Eric; Kask, Susan B.; Orr, Fritz, III.
A computerized survey instrument was developed to estimate the economic value of riparian restoration along the Little Tennessee River in western North Carolina. Restoration benefits were described in terms of five indicators of ecosystem services: abundance of game fish, water clarity, wildlife habitat, allowable water uses, and ecosystem naturalness. An iterative sequence of dichotomous choice contingent valuation questions were presented to local residents to assess household willingness to pay increased county sales taxes for differing amounts of riparian restoration. Our results showed that the benefits of ecosystem restoration were "super-additive". That is, the total value of conducting many restoration projects exceeded the sum of the value of...
Tipo: Working or Discussion Paper Palavras-chave: Resource /Energy Economics and Policy.
Ano: 2002 URL: http://purl.umn.edu/16696
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