Estimating willingness-to-pay with random valuation models : an application to Lake Sevan, Armenia (English)

This paper presents a case study of willingness-to-pay (WTP) estimation using random valuation models. A contingent valuation survey was conducted in Yerevan, Armenia to estimate people's WTP for the protection of Lake Sevan. Three elicitation formats-open-ended, closed-ended, and the stochastic payment card (SPC) approach-were used with split random samples. WTP models with heterogeneous errors were constructed and estimated with the survey data...

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Author

Laplante,Benoit;

Meisner,Craig M.;

Wang,Hua;

Wu,Xun;
Document Date
2004/08/01
Document Type
Policy Research Working Paper
Report Number
WPS3367
Volume No
1
Total Volume(s)
1
Country
Armenia,
Region
Europe and Central Asia,
Disclosure Date
2010/07/01
Doc Name
Estimating willingness-to-pay with random valuation models : an application to Lake Sevan, Armenia
Keywords
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Citation

Laplante,Benoit; Meisner,Craig M.; Wang,Hua; Wu,Xun.

Estimating willingness-to-pay with random valuation models : an application to Lake Sevan, Armenia (English). Policy, Research working paper series ; no. WPS 3367 Washington, DC: World Bank. http://documents.worldbank.org/curated/en/116671468768581190

Estimating willingness-to-pay with random valuation models : an application to Lake Sevan, Armenia (English)

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