Some Issues in Discrete Response Contingent Valuation Studies
نویسندگان
چکیده
منابع مشابه
Contingent valuation studies and health policy.
I am glad to have the opportunity to respond to the fine paper by Professors Smith and Sach (2009). They raise both foundational questions concerning the justification of contingent valuation studies in the health policy area, and important implementation questions concerning the appropriate design of such studies. I will focus my attention on the question of justification. The debate about con...
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Following Harrison and Kreps (1979) and Harrison and Pliska (1981), the valuation of contingent claims in continuous-time and discrete-time finite state space settings is generally based on the no-arbitrage principle, and the use of an equivalent martingale measure. In contrast, for some of the most popular discrete time processes used in finance, such as GARCH processes, the existing literatur...
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Contingent Valuation studies, in which respondents are presented with a hypothetical choice, can be prone to hypothetical bias as respondents could overstate their willingness to pay. The purpose of this paper is to present a method to detect hypothetical bias in the single bound dichotomous choice model. The method borrows the tools from the stochastic frontier model, as in the case of Hofler ...
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ژورنال
عنوان ژورنال: Northeastern Journal of Agricultural and Resource Economics
سال: 1985
ISSN: 0899-367X
DOI: 10.1017/s0899367x00000696