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.


Issue Date:
2004
Publication Type:
Conference Paper/ Presentation
PURL Identifier:
http://purl.umn.edu/19924
Total Pages:
27
Series Statement:
Selected Paper




 Record created 2017-04-01, last modified 2017-08-24

Fulltext:
Download fulltext
PDF

Rate this document:

Rate this document:
1
2
3
 
(Not yet reviewed)