The treatment of income variable in willingness to pay studies

Wipon Aiew; Rodolfo M. Nayga; Richard T. Woodward

doi:10.1080/1350485042000228817

The treatment of income variable in willingness to pay studies

Wipon Aiew, Rodolfo M. Nayga, Richard T. Woodward

Research output: Contribution to journal › Article › peer-review

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.

Original language	English
Pages (from-to)	581-585
Number of pages	5
Journal	Applied Economics Letters
Volume	11
Issue number	9
DOIs	https://doi.org/10.1080/1350485042000228817
Publication status	Published - 15 Jul 2004
Externally published	Yes

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title = "The treatment of income variable in willingness to pay studies",

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.",

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AB - 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.

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DO - 10.1080/1350485042000228817

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JO - Applied Economics Letters

JF - Applied Economics Letters

IS - 9

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The treatment of income variable in willingness to pay studies

Abstract

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