Hanley, N. , Adamowicz, W. and Wright, R. E. (2005) Price vector effects in choice experiments: an empirical test. Resource and Energy Economics, 27(3), pp. 227-234. (doi: 10.1016/j.reseneeco.2004.11.001)
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Abstract
This paper investigates whether the preference and willingness-to-pay estimates obtained from the choice experiment method of estimating non-market values are sensitive to the vector of prices used in the experimental design. We undertake this test in the context of water quality improvements under the European Union's new Water Framework Directive. Using a mixed logit model, which allows for differing scale between the two samples, we find no significant impact of changing the price vector on estimates of preferences or willingness-to-pay.
| Item Type: | Articles |
|---|---|
| Additional Information: | This paper is based on a project funded by the Department of the Environment, Food and Rural Affairs, UK. |
| Status: | Published |
| Refereed: | Yes |
| Glasgow Author(s) Enlighten ID: | Hanley, Professor Nicholas |
| Authors: | Hanley, N., Adamowicz, W., and Wright, R. E. |
| College/School: | College of Medical Veterinary and Life Sciences > School of Biodiversity, One Health & Veterinary Medicine |
| Journal Name: | Resource and Energy Economics |
| Publisher: | Elsevier |
| ISSN: | 0928-7655 |
| ISSN (Online): | 0928-7655 |
| Published Online: | 24 February 2005 |
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