This study compares an ordered probit model and a Tobit model with selection to take into account both true zero and protest zero bids while estimating the willingness to pay (WTP) for conservation easements in Macon County, NC. By comparing the two models, the ordered/unordered selection issue...

We estimate individual discount rates with respect to time streams of money using controlled laboratory experiments. These discount rates are elicited by means of field experiments involving real monetary rewards. The experiments were carried out across Denmark using a representative sample of...