| Author: | Haab, T. McConnell, K. |
| Title: | Referendum models and negative willingness to pay: alternative solutions |
| Journal: | Journal of Environmental Economics and Management
1997 : FEB, VOL. 32:2, p. 251-270 |
| Index terms: | MODELS PAY ENVIRONMENT |
| Language: | eng |
| Abstract: | Traditional referendum models of contingent valuation with linear utility functions and additive errors have troubled researchers because they routinely predict negative willingness to pay. The authors explore solutions to this problem, including parametric models and the Turnbull empirical distribution estimator of willingness to pay exploited by Carson et al. The authors show that there are closed form solutions for estimates of the empirical distribution function from the Turnbull likelihood maximization problem which correspond to the self-consistency algorithm. |
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