In this paper we propose theoretically consistent welfare measurement of use and nonuse values for an improvement in environmental quality with revealed and stated preference data. An analytical model based on the comparative static analysis of the variation function that describes the relationship between recreation demand and dichotomous choice contingent valuation models is estimated. Our re...

This paper proves two theorems for homogeneous juries that arise from different solutions to the problem of aggregation of dichotomous choice. In the first theorem, negative correlation increases the competence of the jury, while positive correlation has the opposite effect. An enlargement of the jury with positive correlation can be detrimental up to a certain size, beyond which it becomes ben...

This paper generalizes the normal probit model of dichotomous choice by introducing mixtures of normals distributions for the disturbance term. By mixing on both the mean and variance parameters and by increasing the number of distributions in the mixture these models effectively remove the normality assumption and are much closer to semiparametric models. When a Bayesian approach is taken, the...

In 2009, we reported findings from the first study evaluating the relationship between canine longevity and number of years of lifetime ovary exposure. All previous studies examining gonadal influences on canine longevity relied upon categorizing females as "intact" or "spayed" based on gonadal status at the time of death. Our study of Rottweilers generated a novel result: Keeping ovaries longe...

The long-term success of payment for environmental services (PES) schemes depends on adequate demand for services and sustainable financing. We examine the viability of using locally financed payments to protect watershed services in rural eastern Costa Rica. Using dichotomous choice contingent valuation, we measure households’ willingness to pay higher water bills for a local PES programme to ...

Consider a group of people confronted with a dichotomous choice (for example, a yes or no decision). Assume that we can characterize each person by a probability, pi, of making the 'better' of the two choices open to the group, such that we define 'better' in terms of some linear ordering of the alternatives. If individual choices are independent, and if the a priori likelihood that either of t...

A self-administered questionnaire (SKAQ) in simple Hindi was constructed and standardized for assessing the knowledge and attitude of a north Indian population towards sex. SKAQ is a 55- item questionnaire split into two parts: a 35-item knowledge-part with dichotomous choice of responses and a 20-item attitude-part scorable on 3-point Likert scale. Higher scores indicated a better knowledge an...

In Double Bounded Dichotomous Choice (DBDC) Contingent Valuation (CV) studies estimated parameters of the first response equations are used to obtain Mean WTP because of the anchoring bias inherent in follow up responses. In this paper we show that through an efficient scheme of bid design and using a recursive probit model one can arrive at estimates of mean WTP using the follow up responses t...

Every year thousands of new substances are synthetized and marketed. Either by regulatory demands or scientific purposes, these substances should all be tested. The determination of lethal concentration (LC) in a given population after toxicity testing in the laboratory is still the best way to establish and compare toxicity. In this technical note, we propose an R function to estimate LC with ...

Cross-asset derivative securities are studied and a dichotomous asset pricing model (DAPM) is derived that significantly enriches the Sharpe-Lintner-Black capital asset pricing model. An assets beta is shown to be observable ex ante through the price of its cross-market call or put, and the DAPM separately predicts the assets’ expected return beta relations under the upper-market and lower-mark...