Estimating Willingness-to-Paywith Random Valuation Models: An Application to Lake Sevan, Armenia

Wang, Hua ; Laplante, Benoit ; Wu, Xun ; Meisner, Craig

World Bank, Washington, D.C.

关键词: ACTIONS;    AGRICULTURE;    AIR QUALITY;    CHANGE;    CONTINGENT VALUATION;   

DOI  :  10.1596/1813-9450-3367
RP-ID  :  WPS3367

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

This paper presents a case study ofwillingness-to-pay (WTP) estimation using random valuationmodels. A contingent valuation survey was conducted inYerevan, Armenia to estimate people's WTP for theprotection of Lake Sevan. Three elicitationformats-open-ended, closed-ended, and the stochastic paymentcard (SPC) approach-were used with split random samples. WTPmodels with heterogeneous errors were constructed andestimated with the survey data. The SPC approach produces ahigher estimation of the mean WTP than both the open-endedand closed-ended approaches, while results from theopen-ended and closed-ended elicitation formats are similar.Furthermore, contrary to research findings obtained in theUnited States, this study finds higher WTP estimations withmail surveys than with personal interviews.