Economic and participatory methods of project appraisal have traditionally been viewed as mutually exclusive alternatives, as they address different decision making criteria. Participatory methods such citizens' juries (or value juries) have been suggested as a means of better coping with some of the problems associated with economic evaluation methods such as contingent valuation. However, par...

hara biosphere reserve in southern hormozgan province with 85686 hectares areas is located between bandar khamir and queshm island. this area can be considered as the most spectacular regions of iran for a unique coastal seascape. mangrove forests and amazing biodiversity make this region as the most significant ecotourism areas throughout the country. this research attempts to determine recrea...

A finite probability mixture model is combined with a contingent valuation model to analyze the existence of differential market segments in a hypothetical market. The approach has at least two principle benefits. First, the model is capable of identifying market segments within the hypothetical market. Second, the model can be used to estimate WTP/WTA within each segment. The model is illustra...

After several decades of academic research on the contingent valuation (CV) method a consistent behavioral explanation of ‘hypothetical bias’ is still lacking. Based on evidence from economics, economic psychology and the political sciences, I propose an explanation that is based on two simple working hypotheses about respondent behaviour in contingent valuation surveys. The first hypothesis is...

This paper introduces model specifications that can be used to explain response incentive effects that might occur with discrete response contingent valuation data when follow-up responses are collected. The models allowfor possible random response shocks, structural ships in willingness to pay betweenpayment questionsand heteroskedasticity between and within responses. Three well-known conting...

This article reports the results of two studies aimed at testing and refining a procedure for estimating willingnessto-pay based monetary values of safety using the contingent valuation method. In spite of the fact that respondents were given the opportunity to discuss various safety issues and key concepts in focus group meetings held in advance of individual interviews, and were also given am...

The Willingness-to-Pay approach is the basic justi...cation for the use of the Contingent Valuation method to evaluate public mortality risk reduction programs. However, aggregating unweighted willingness-to-pay is a valid method only when individuals have the same marginal value of money, an unrealistic assumption in the presence of heterogeneity. We show that heterogeneity on wealth and basel...