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

Author

Listed:
  • Hui Li

    (Department of Economics, Eastern Illinois University)

  • Robert P. Berrens

    (Department of Economics, University of New Mexico)

  • Alok K. Bohara

    (Department of Economics, University of New Mexico)

  • Hank C. Jenkins-Smith

    (George Bush School of Government and Public Service, Texas A&M University)

  • Carol L. Silva

    (George Bush School of Government and Public Service, Texas A&M University)

  • David L. Weimer

    (George Bush School of Government and Public Service, Texas A&M University)

Abstract

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.

Suggested Citation

  • Hui Li & Robert P. Berrens & Alok K. Bohara & Hank C. Jenkins-Smith & Carol L. Silva & David L. Weimer, 2005. "Exploring the Beta Model Using Proportional Budget Information in a Contingent Valuation Study," Economics Bulletin, AccessEcon, vol. 17(8), pages 1-9.
    • Handle: RePEc:ebl:ecbull:eb-05q20007
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    File URL: http://www.accessecon.com/pubs/EB/2005/Volume17/EB-05Q20007A.pdf
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    References listed on IDEAS

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    1. Hui Li & R. P. Berrens & A. K. Bohara & H. C. Jenkins-Smith & C. L. Silva & L. Weimer, 2004. "Telephone versus Internet samples for a national advisory referendum: are the underlying stated preferences the same?," Applied Economics Letters, Taylor & Francis Journals, vol. 11(3), pages 173-176.
    2. Timothy C. Haab & Kenneth E. McConnell, 1998. "Referendum Models and Economic Values: Theoretical, Intuitive, and Practical Bounds on Willingness to Pay," Land Economics, University of Wisconsin Press, vol. 74(2), pages 216-229.
    3. Christopher G. Leggett & Naomi S. Kleckner & Kevin J. Boyle & John W. Dufield & Robert Cameron Mitchell, 2003. "Social Desirability Bias in Contingent Valuation Surveys Administered Through In-Person Interviews," Land Economics, University of Wisconsin Press, vol. 79(4), pages 561-575.
    4. Berrens, Robert P. & Bohara, Alok K. & Jenkins-Smith, Hank C. & Silva, Carol L. & Weimer, David L., 2004. "Information and effort in contingent valuation surveys: application to global climate change using national internet samples," Journal of Environmental Economics and Management, Elsevier, vol. 47(2), pages 331-363, March.
    5. Li, Hui & Berrens, Robert P. & Bohara, Alok K. & Jenkins-Smith, Hank C. & Silva, Carol L. & Weimer, David L., 2005. "Testing for Budget Constraint Effects in a National Advisory Referendum Survey on the Kyoto Protocol," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 30(2), pages 1-17, August.
    6. Cameron, Trudy Ann & Poe, Gregory L. & Ethier, Robert G. & Schulze, William D., 2002. "Alternative Non-market Value-Elicitation Methods: Are the Underlying Preferences the Same?," Journal of Environmental Economics and Management, Elsevier, vol. 44(3), pages 391-425, November.
    7. Berrens, Robert P. & Bohara, Alok K. & Jenkins-Smith, Hank & Silva, Carol & Weimer, David L., 2003. "The Advent of Internet Surveys for Political Research: A Comparison of Telephone and Internet Samples," Political Analysis, Cambridge University Press, vol. 11(1), pages 1-22, January.
    8. Bockstael, N. & Costanza, R. & Strand, I. & Boynton, W. & Bell, K. & Wainger, L., 1995. "Ecological economic modeling and valuation of ecosystems," Ecological Economics, Elsevier, vol. 14(2), pages 143-159, August.
    9. Deaton,Angus & Muellbauer,John, 1980. "Economics and Consumer Behavior," Cambridge Books, Cambridge University Press, number 9780521296762.
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    Cited by:

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    3. Onno J. Kuik & Barbara Bucher & Michela Catenacci & Etem Karakaya & Richard S.J. Tol, 2006. "Methodological aspects of recent climate change damage cost studies," Working Papers FNU-122, Research unit Sustainability and Global Change, Hamburg University, revised Dec 2006.

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    More about this item

    Keywords

    Beta model;

    JEL classification:

    • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation

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