The treatment of income variable in willingness to pay studies

Wipon Aiew, Rodolfo M. Nayga, Richard T. Woodward

Research output: Contribution to journalArticle

7 Citations (Scopus)

Abstract

This paper evaluates income variable specification and functional form issues in contingent-valuation studies using the utility-theoretic approach. Applying data from a study of willingness to pay for irradiated beef, results suggest that functional form does affect the estimates, but variable specification does not introduce statistically significant differences.

Original languageEnglish
Pages (from-to)581-585
Number of pages5
JournalApplied Economics Letters
Volume11
Issue number9
DOIs
Publication statusPublished - 2004 Jul 15

ASJC Scopus subject areas

  • Economics and Econometrics

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