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The treatment of income variable in willingness to pay studies

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  • Wipon Aiew
  • Rodolfo Nayga
  • Richard Woodward

Abstract

This paper evaluates income variable specification and functional form issues in contingent-valuation studies using the utility-theoretic approach. Applying data from a study of willingness to pay for irradiated beef, results suggest that functional form does affect the estimates, but variable specification does not introduce statistically significant differences.

Suggested Citation

  • Wipon Aiew & Rodolfo Nayga & Richard Woodward, 2004. "The treatment of income variable in willingness to pay studies," Applied Economics Letters, Taylor & Francis Journals, vol. 11(9), pages 581-585.
    • Handle: RePEc:taf:apeclt:v:11:y:2004:i:9:p:581-585
    DOI: 10.1080/1350485042000228817
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    Cited by:

    1. Farsi, Mehdi, 2010. "Risk aversion and willingness to pay for energy efficient systems in rental apartments," Energy Policy, Elsevier, vol. 38(6), pages 3078-3088, June.
    2. Jason Hawkins & Khandker Nurul Habib, 2020. "Heterogeneity in marginal value of urban mobility: evidence from a large-scale household travel survey in the Greater Toronto and Hamilton Area," Transportation, Springer, vol. 47(6), pages 3091-3108, December.
    3. Thomas Broberg, 2010. "Income Treatment Effects in Contingent Valuation: The Case of the Swedish Predator Policy," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 46(1), pages 1-17, May.
    4. Henry-Osorio, Miguel & Mittelhammer, Ronald C., 2012. "An Information-Theoretic Approach to Modeling Binary Choices: Estimating Willingness to Pay for Recreation Site Attributes," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 123432, Agricultural and Applied Economics Association.

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