Exploring the Beta Model Using Proportional Budget Information in a Contingent Valuation Study

Using a set of random telephone and Internet (web-based) survey samples for a national advisory referendum, we implement Beta models to handle proportional budget information, and allow for consistency in modeling assumptions and the calculation of estimated willingness to pay (WTP). Results indicat...

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Bibliographic Details
Published in:	Economics bulletin Vol. 17; no. 8; pp. 1 - 9
Main Authors:	Silva, Hank C. Jenkins-Smith Carol L, Li, Hui, Weimer, David Leo, Bohara, Robert P. Berrens Alok K
Format:	Journal Article
Language:	English
Published:	AccessEcon 2005
Series:	Economics Bulletin
Subjects:	Beta model
Online Access:	Get full text
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Summary:	Using a set of random telephone and Internet (web-based) survey samples for a national advisory referendum, we implement Beta models to handle proportional budget information, and allow for consistency in modeling assumptions and the calculation of estimated willingness to pay (WTP). Results indicate significant budget constraint effects and demonstrate the potential for Beta models in handling mental-accounting type information.
ISSN:	1545-2921 1545-2921