This paper analyzes the effect that potential future availability of information has on willingness to pay in a contingent market characterized by uncertainty and irreversibility. In particular, I test whether the effect is consistent with the predictions of Zhao and Kling’s (forthcoming) theory of commitment cost. The analysis is performed using the results of a contingent valuation study desi...

Protest bids are often excluded during analysis of contingent valuation method data. It is suggested that this procedure might introduce significant bias. Protest bids are often registered by respondents who may actually place a higheror lower-than-average value on the commodity in question but refuse to pay on the basis of ethical or other reasons, Exclusion of protest bids may therefore bias ...

consumers’ willingness to pay for nonmarket commodities such as wildlife, quality of the environment and forest services (including timber production, water conservation, soil conservation, oxygen supply, carbon sequestration, recreation services and wildlife preservation) is a measure of value of these resources. in recent years the contingent valuation has been used to determine this and othe...

BACKGROUND The identification of the attribution of economic value that users of a health system assign to a health service could be useful in planning these services. The method of contingent valuation can provide information about the user's perception of value in monetary terms, and therefore comparable between services of a very different nature. This study attempts to extract the economic ...

An extension of the idea of state tameness is presented in a dynamic framework. The proposed model for financial markets is rich enough to provide analytical tools that are mostly obtained in models that arise as the solution of SDEs with deterministic coefficients. In the presented model the augmentation by a shadow stock of the price evolution has a Markovian character. As in a previous paper...

Scope insensitivity has been a common result in many contingent valuation studies applied to high non-use value resources. Previous studies have explained these results with different arguments, such as the theory of diminishing marginal existence values or even going as far as questioning the validity of contingent valuation method (CVM). In this paper, we conduct a meta-analysis on contingent...

economic valuation of water is useful in the administration and management of water. population growth and urbanization caused municipal water demand increase in iran. limited water resource supply and urban water network capacity raised complexity in water resources management. present condition suggests using economic value of water as a criterion for allocating policies and feasibility study...