The treatment of income variable in willingness to pay studies

Wipon Aiew, Rodolfo M. Nayga, Jr, 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
Externally publishedYes

Fingerprint

Income
Willingness-to-pay
Functional form
Beef
Contingent valuation

ASJC Scopus subject areas

  • Economics and Econometrics

Cite this

The treatment of income variable in willingness to pay studies. / Aiew, Wipon; Nayga, Jr, Rodolfo M.; Woodward, Richard T.

In: Applied Economics Letters, Vol. 11, No. 9, 15.07.2004, p. 581-585.

Research output: Contribution to journalArticle

Aiew, Wipon ; Nayga, Jr, Rodolfo M. ; Woodward, Richard T. / The treatment of income variable in willingness to pay studies. In: Applied Economics Letters. 2004 ; Vol. 11, No. 9. pp. 581-585.
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