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 ...

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...

This paper presents optimal collective dichotomous choices under quota constraints. We focus on committees that have to decide whether to accept or reject a set of projects under quota constraints. We provide a method for optimal ranking of projects which is suitable for solving this problem. The main result generalizes a number of earlier results in the subject. To outline the applicability of...

India has a lot of historical places. Among them one the most precious is Taj Mahal. Due to fewer threats conservation, placed on the1996 watch list 100 endangered sites by World Monument Fund. In this study, an attempt was made calculate economic value Mahal in relation conservation issues. This study assesses households' WTP for through CVM study. Single Bounded Dichotomous Choice with open-e...

Nowadays, tourism related activities are widely regarded as key tools for rural development. Accordingly, it would be worthwhile to estimate the recreational value of Javaherdeh Village, in order to propose a better management plan for attracting more tourists to this place. This research employed a contingent valuation method to determine the recreational value and individual willingness to pa...

water quality is a most important factor in areas facing water crisis the survival of which is based upon it. in a determination of water value the factors that should be attended to are: the given volume, specified quality(preservation value), as well as the specific time and place.valuation of water in iran is dependent on types of exploited water resources which include: human consumption(qu...