Using multiple choice tasks per respondent in discrete choice experiment studies increases the amount of available information. However, respondents’ learning and fatigue may lead to changes in observed utility function preference (taste) parameters, as well as the variance in its error term...

Empirical work regarding the impact of environmental regulations on firm behavior has been developed under the assumption that emissions of pollutants are deterministic. The implication is that the regulation is effective only when the constraint is exactly satisfied. In real life, however, it...

This paper investigates the idea that people are unsure about the value they place on prospective changes in environmental goods. In particular, we focus on a parametric explanation of the determinants of a "value gap," the difference between the most someone is sure they would pay for an...

Welfare change estimates obtained from discrete-response contingent valuation experiments normally assume a particular distribution of willingness-to-pay (W TP).U sing conventional microeconomic theory, we derive upper and lower bounds on such estimates. These bounds are interpreted...