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| Author: | Ferrini, S. Scarpa, R. |
| Title: | Designs with a priori information for nonmarket valuation with choice experiments: A Monte Carlo study |
| Journal: | Journal of Environmental Economics and Management
2007 : VOL. 53:3, p.342-363 |
| Index terms: | economics |
| Freeterms: | experimental design choice experiments D-criterion nonmarket valuation |
| Language: | eng |
| Abstract: | This paper reviews the practice of experimental design for choice experiments in environmental economics and compares it with advances in experimental design. The study then evaluates statistical efficiency of four different designs using of Monte Carlo experiments. Results indicate that D-efficient designs are promising, especially when based on Bayesian algorithms with informative prior. However, if good quality a priori information is lacking, and if there is strong uncertainty about the real GDP conditions quite common in environmental valuation then practitioners might be better off with shifted designs built on conventional fractional factorial designs for linear models. |
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