The purpose of this research is to use measures of willingness to pay derived from random utility models as the basis for evaluating the properties of parametric and nonparametric estimators with binary choice data. Monte Carlo simulation results indicate that simple parametric methods...

This paper argues that the widespread belief that discrete contingent valuation (CV) questions yield substantially larger estimates of the mean (and the median) willingness to pay (WTP) for nonmarket environmental resources in comparison to estimates from open-ended CV questions is unfounded. A...

This paper reports the first attempt to measure the importance of controlling marine debris as an aesthetic characteristic of beaches and coastal area. The results are based on a contingent valuation survey designed to estimate the economic value people would place on controlling marine debris...

This paper reports the first test of how exogenous health shocks impact people's longevity expectations. The analysis exploits the panel structure of the Health and Retirement Study and tests whether smokers, former smokers and those who never smoked react differently to serious, smoking related...

This paper provides a selective overview of the modeling and estimates of the economic values of environmental resources. Travel cost, hedonic property values, contingent valuation and household production models are discussed and evaluated. Two new approaches - calibrated models and conjoint...

The past few years have seen a highly charged debate about whether contingent valuation (CV) surveys can provide valid economic measures of people's values for environmental resources. In an effort to appraise the validity of CV measures of economic value, a distinguished panel of social...

This paper describes production analogs to the conditions used in consumer theory to recover measures of willingness to pay for non-marketed environmental resources. The analysis suggests that both weak complementarity and Hicksian neutrality have production analogs. Moreover, it indicates that...

This paper considers the modeling strategies that have been used to incorporate time in revealed and stated preference methods for valuing environmental resources. After reviewing a subset of the economic models for describing time as an input to household production; time in creating habits and...

Richer countries are safer, healthier places to live. They pollute less and enjoy a higher standard of living. Evaluating the indirect, non-market effects of education requires detailed, microeconomic analyses of education's causal role in people's behavior. Thep purpose of this paper is to...

In 1992 the National Oceanic and Atmospheric Administration (NOAA) convened a panel of prominent social scientists to assess the reliability of natural resource damage estimates derived from contingent valuation (CV). The product of the panel's deliberations was a report that laid out a set of...