Umeň Economic Studies, Department of Economics, Umeň University
Maria Vredin Johansson
Economics without markets. Four papers on the Contingent Valuation and Stated Preference Methods
Abstract: This thesis consists of four papers. The first two papers
deal with the valuation of an endangered species, the African elephant. The
third paper is on the assessment of attribute values for work trips. The
fourth paper models the number of alternative travel modes for work trips.
Paper [I] reports benefit estimates from a Contingent Valuation (CV)
survey of Swedish households' willingness to pay (WTP) for the preservation
of the African elephant. Methodological aspects of the CV method are
addressed, such as the method's susceptibility to variations in the payment
vehicle and in the time-horizon of the payment obligation. None of the
treatments have significant impact on the WTP.
Paper [II] analyses
determinants of the WTP from Paper [I]. A double hurdle model for household
choice is formulated where the household first decides whether to give to
elephant protection or not and, then, decides on the size of the donation.
The model is estimated with Heckman's two-step estimator. With one
exception, the determinants significant for the decision to give are not
the same as the ones significant for the decision on how much to give.
Paper [III] uses stated preference data to estimate the values of time and
safety for work trips. In standard and random parameters logit models the
respondent's modal choice is related to the perceived time, cost, safety,
and environmental friendliness or flexibility of the alternatives. The
perceived time, cost and safety are shown to significantly affect the
choice of work trip travel mode. From the estimated models we assess
attribute values for time and safety.
Paper [IV] estimates two count
data models, an ordinary Poisson and a polynomial Poisson of order one
(PP1), to explain the individual's number of alternative travel modes for
work trips. The PP1 model, which allows for departures from equidispersed
data, cannot improve the Poisson model. The individual's income and the
distance to the workplace are found to affect the number of alternative
travel modes for work trips.
Keywords: Intertemporal Embedding; Discrete/Continuous Choice; Value of Statistical Life; Value of Time; Random Parameters Logit; Count Data; Choice Set Size; (follow links to similar papers)
JEL-Codes: D61; D64; H40; Q26; (follow links to similar papers)
138 pages, December 15, 1999
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