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Contingent values a...
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Bostedt, Göran,1966-Department of Forest Economics, Swedish University of Agricultural Sciences, Umeå, Sweden
(author)
Contingent values as implicit contracts : Estimating minimum legal willingness to pay for conservation of large carnivores in Sweden
- Article/chapterEnglish2008
Publisher, publication year, extent ...
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2007-04-12
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Springer Netherlands,2008
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printrdacarrier
Numbers
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LIBRIS-ID:oai:DiVA.org:umu-64298
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https://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-64298URI
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https://doi.org/10.1007/s10640-007-9103-xDOI
Supplementary language notes
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Language:English
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Summary in:English
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Classification
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Subject category:ref swepub-contenttype
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Subject category:art swepub-publicationtype
Notes
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Mean willingness-to-pay (WTP) based on multiple bounded, discrete choice responses from contingent valuation surveys are normally obtained using some kind of parametric estimator. This paper instead exploits the possibility to interpret the response to the discrete-choice question as an implicit contract between the researcher and the respondent, resulting in a minimum legal WTP (MLW) estimator. Never previously used in valuation literature, it is used in this paper to estimate the WTP for the preservation of large carnivores in Sweden, based on a large scale, national survey. Results show that MLW estimates only were 12–19% of the comparable parametric estimates. In keeping with other results in contingent valuation literature, we find that the MLW estimates are positively related to the educational level, income and the fraction of urban population, while negatively related to age. Among the advantages of the MLW estimator is its transparency as well as the fact that it rests on a contractual notion of WTP.
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Kindberg, JonasDepartment of Animal Ecology, Swedish University of Agricultural Sciences, Umeå, Sweden
(author)
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Ericsson, GöranDepartment of Animal Ecology, Swedish University of Agricultural Sciences, Umeå, Sweden
(author)
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Department of Forest Economics, Swedish University of Agricultural Sciences, Umeå, SwedenDepartment of Animal Ecology, Swedish University of Agricultural Sciences, Umeå, Sweden
(creator_code:org_t)
Related titles
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In:Environmental and Resource Economics: Springer Netherlands39:2, s. 189-1980924-64601573-1502
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