Araña, Jorge E.; Léon, Carmelo J. - In: Hacienda Pública Española (2006) 2, pp. 83-105
The valuation of non-market goods involves iterated elicitation questions which obtain more information from the sample respondents and lead to more efficient welfare estimates. In this paper we consider the improvements which could be obtained by utilising a Bayesian MCMC approach to model this...