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Analyzing Dichotomous Choice Contingent Valuation Data With Zero Observations: A Mixture Model

Author

Listed:
  • Seung-Hoo Yoo

    (Hoseo University)

  • Hee-Jong Yang

    (Korea Institute of S&T Evaluation and Planning)

  • Eui Soon Shin

    (Yonsei University)

Abstract

Modeling public behavior to the policy with the data from dichotomous choice contingent valuation (DCCV) surveys is often complicated by zero willingness to pay (WTP) responses in the sample. To deal with the zero responses to obtain appropriate welfare measure such as mean and median WTP, we consider a mixture model of WTP distributions to allow a point mass at zero. We also consider the conventional model and a spike model for comparison. Our application reported here portrays the usefulness of the mixture model to analyze DCCV data with zero observations.

Suggested Citation

  • Seung-Hoo Yoo & Hee-Jong Yang & Eui Soon Shin, 2001. "Analyzing Dichotomous Choice Contingent Valuation Data With Zero Observations: A Mixture Model," Korean Economic Review, Korean Economic Association, vol. 17, pages 311-327.
    • Handle: RePEc:kea:keappr:ker-200112-17-2-07
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    More about this item

    Keywords

    Dichotomous choice contingent valuation; willingness to pay; mixture model; spike model; zero response;
    All these keywords.

    JEL classification:

    • Q25 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Water
    • C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities

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