Bond، نويسنده , , Craig A. and Cullen، نويسنده , , Kelly Giraud and Larson، نويسنده , , Douglas M.، نويسنده ,

3540808

Joint estimation of discount rates and willingness to pay for public goods

3011

We analyze willingness to pay (WTP) for environmental programs whose time periods of benefit and repayment differ, using a net present value framework that identifies parameters of both WTP and personal discount rates. Respondents to a contingent valuation survey focusing on protection of critical habitat buffer zones for the endangered Steller Sea Lion in Alaska were asked their willingness to pay for 1-, 5-, and 15-year repayment periods. We jointly estimate the personal discount rates and WTP via maximum likelihood, and compare with a model assuming a fixed, market discount rate.

2751

Contingent valuation , Species , Sea lions , discounting , Endangered , Wildlife , Recovery

Studia Iranica

2759

2759