ESTIMATING WILLINGNESS-TO-PAY USING A POLYCHOTOMOUS CHOICE FUNCTION: AN APPLICATION TO PORK PRODUCTS WITH ENVIRONMENTAL ATTRIBUTES

This paper utilizes a polychotomous choice function to investigate the relationship between socioeconomic characteristics and willingness-to-pay for embedded environmental attributes. Specifically, a two-stage estimation procedure with an ordered probit selection rule is used to predict the premium payers and the magnitude of the premium they are willing to pay.

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Year of publication:	2004
Authors:	Hurley, Sean P. ; Miller, Douglas J. ; Kliebenstein, James B.
Institutions:	Agricultural and Applied Economics Association - AAEA
Subject:	Research Methods/ Statistical Methods

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Extent:	application/pdf
Series:	2004 Annual meeting, August 1-4, Denver, CO.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series 2004 Annual meeting, August 1-4, Denver, CO Number 19924
Source:	RePEc - Research Papers in Economics

Persistent link: https://ebvufind01.dmz1.zbw.eu/10005500391