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ToolsDay, Brett (2007) Distribution-free estimation with interval-censored contingent valuation data: Troubles with Turnbull? Environmental and Resource Economics, 37 (4). pp. 777-795. ISSN 1573-1502
Full text not available from this repository.Abstract
Contingent valuation (CV) surveys frequently employ elicitation procedures that return interval-censored data on respondents’ willingness to pay (WTP). Almost without exception, CV practitioners have applied Turnbull’s self-consistent algorithm to such data in order to obtain nonparametric maximum likelihood (NPML) estimates of the WTP distribution. This paper documents two failings of Turnbull’s algorithm; (1) that it may not converge to NPML estimates and (2) that it may be very slow to converge. With regards to (1) we propose starting and stopping criteria for the algorithm that guarantee convergence to the NPML estimates. With regards to (2) we present a variety of alternative estimators and demonstrate, through Monte Carlo simulations, their performance advantages over Turnbull’s algorithm.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | interval-censored data,turnbull’s self-consistent algorithm,nonparametric maximum likelihood,contingent valuation |
| Faculty \ School: | Faculty of Science > School of Environmental Sciences |
| UEA Research Groups: | Faculty of Science > Research Centres > Centre for Social and Economic Research on the Global Environment (CSERGE) Faculty of Science > Research Groups > Resources, Sustainability and Governance (former - to 2018) Faculty of Social Sciences > Research Centres > Centre for Behavioural and Experimental Social Sciences Faculty of Medicine and Health Sciences > Research Centres > Business and Local Government Data Research Centre (former - to 2023) |
| Depositing User: | Rosie Cullington |
| Date Deposited: | 26 Feb 2011 19:08 |
| Last Modified: | 24 Sep 2024 09:40 |
| URI: | https://ueaeprints.uea.ac.uk/id/eprint/25075 |
| DOI: | 10.1007/s10640-006-9061-8 |
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