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The Effect of Response Time on Conjoint Analysis Estimates of Rainforest Protection ValuesAuthor(s): Thomas Holmes; Keith Alger; Christian Zinkhan; D. Evan Mercer
Source: Journal of Forestry Economics 4:1 1998
Publication Series: Miscellaneous Publication
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DescriptionThis paper reports the first estimutes of willingness to pay (WTP) for rain forest protection in the threatened Atlantic Coastal Forest ecosystem in northeastern Brazil. Conjoint analysis data were collected from Brazilian tourists for recreational bundles with complex prices. An ordered probit model with time-varying parameters and heteroskedastic errors was estimated.The main empirical results showed that: (1) utility parameters vary systematically with response time, (2) respondents use different anchors and scafes in rating atfribute differences, (3) mean WTP estimates for nature park attributes converge to stable values as response time increases, and (4) privateforests provide public benefits to Brazilians.
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CitationHolmes, Thomas; Alger, Keith; Zinkhan, Christian; Mercer, D. Evan. 1998. The Effect of Response Time on Conjoint Analysis Estimates of Rainforest Protection Values. Journal of Forestry Economics 4:1 1998
Keywordsanchoring, compensatory decision rules, conjoint analysis, non-market valuation, resampling, willingness to pay, yea-saying
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