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Modelling winners and losers in contingent valuation of public goods : appropriate welfare measures and econometric analysis

Author

Listed:
  • J. Peter Clinch
  • Anthony Murphy
Abstract
Contingent Valuation is now the most widely used method for valuing non-marketed goods in cost benefit analysis. Yet, despite the fact that many externalities manifest themselves as costs to some and benefits to others, most studies restrict willingness to pay (WTP) to being non-negative. This paper explores appropriate welfare measures for assessing losses and gains and demonstrates how these can be elicited explicitly. Statistical / econometric methods are presented for modelling such responses. Median WTP is estimated non-parametrically. Grouped regression / Tobit and grouped regression / hurdle models are used to identify the determinants of WTP and to estimate mean WTP.

Suggested Citation

  • J. Peter Clinch & Anthony Murphy, 1998. "Modelling winners and losers in contingent valuation of public goods : appropriate welfare measures and econometric analysis," Working Papers 199812, School of Economics, University College Dublin.
    • Handle: RePEc:ucn:wpaper:199812
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    File URL: http://hdl.handle.net/10197/3044
    File Function: First version, 1998
    Download Restriction: no
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    Keywords

    Contingent valuation; Public good; Externality; Public bad; Welfare measures; Cost benefit analysis; Non-parametric distribution; Hurdle model; Tobit; Contingent valuation; Cost effectiveness; Public goods--Econometric models;
    All these keywords.

    JEL classification:

    • C24 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Truncated and Censored Models; Switching Regression Models; Threshold Regression Models
    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
    • Q26 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Recreational Aspects of Natural Resources

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