This paper presents a case study of willingness-to-pay (WTP) estimation using random valuation models. A contingent valuation survey was conducted in Yerevan, Armenia to estimate people's WTP for the protection of Lake Sevan. Three elicitation formats-open-ended, closed-ended, and the stochastic...

This paper presents a case study of willingness-to-pay (WTP) estimation using random valuation models. A contingent valuation survey was conducted in Yerevan, Armenia to estimate people's WTP for the protection of Lake Sevan. Three elicitation formats-open-ended, closed-ended, and the stochastic...

Perceived fairness may affect people’s willingness to pay (WTP). In this study, an online survey with random experiments reveals that perceived fairness has a significant positive impact on consumers’ WTP for cleaner raw water (WTP1) and their WTP for tap water meeting higher water quality...

January 2000 - People in Sofia are willing to pay 4.2 percent of their income or more for a program to improve air quality. Through a survey, Wang and Whittington study willingness to pay for improvements in air quality in Sofia, Bulgaria. Using a stochastic payment card approach - asking...