The treatment of income variable in willingness to pay studies

This paper evaluates income variable specification and functional form issues in contingent-valuation studies using the utility-theoretic approach. Applying data from a study of willingness to pay for irradiated beef, results suggest that functional form does affect the estimates, but variable specification does not introduce statistically significant differences.

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Year of publication:	2004
Authors:	Aiew, Wipon ; Nayga, Rodolfo ; Woodward, Richard
Published in:	Applied Economics Letters. - Taylor & Francis Journals, ISSN 1350-4851. - Vol. 11.2004, 9, p. 581-585
Publisher:	Taylor & Francis Journals

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005629575