Nonparametric estimation for classic and interval open-ended data in contingent valuation

• Assume that a valuation survey is conducted for estimating the benefits of a policy change. In order to estimate the willingness to pay (WTP) for the policy change, a classic and interval open-ended question is used. This question permits respondents to choose between two types of answer, either an exact WTP amount or a self-selected interval. Accidently, a rather large proportion of the respondents give exact WTP values as well as intervals. In this set up, we derive a nonparametric maximum likelihood estimator of the distribution of WTP. Monte Carlo simulations are performed to study the behavior of the proposed estimator

Ämnesord

SAMHÄLLSVETENSKAP  -- Ekonomi och näringsliv (hsv//swe)

SOCIAL SCIENCES  -- Economics and Business (hsv//eng)

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