Year: 1997
Type: article
Abstract: Three conjoint models—a traditional ratings model, a ratings difference specification, and a binary response model—were used to value groundwater protection program alternatives. The last, which is virtually identical to a dichotomous choice contingent valuation specification, produced the smallest value estimates. This suggests that the conjoint model is very sensitive to model specification and that traditional conjoint models may overestimate economic value because many respondents are not in the market for the commodity being valued.
Institution: University of Massachusetts Amherst
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W1550327217