|Appears in Collections:||Economics Journal Articles|
|Peer Review Status:||Refereed|
|Title:||Benefit estimates for landscape improvements: sequential Bayesian design and respondents’ rationality in a choice experiment|
Hutchinson, W George
|Publisher:||University of Wisconsin Press|
|Citation:||Scarpa R, Campbell D & Hutchinson WG (2007) Benefit estimates for landscape improvements: sequential Bayesian design and respondents’ rationality in a choice experiment, Land Economics, 83 (4), pp. 617-634.|
|Abstract:||A multi-attribute, stated-preference approach is used to value low and high impact actions on four major landscape components addressed by the Rural Environment Protection Scheme in Ireland. Several methodological issues are addressed: the use of prior beliefs on the relative magnitudes of parameters, standardized description of different levels of landscape improvements via image manipulation software, adoption of efficiency-increasing sequential experimental design, and sensitivity of benefit estimates to inclusion of responses from "irrational" respondents. Results suggest that Bayesian design updating delivers significant efficiency gains without loss in respondent efficiency, and estimates are upward-biased when irrational respondents are included.|
|Rights:||The publisher does not allow this work to be made publicly available in this Repository. Please use the Request a Copy feature at the foot of the Repository record to request a copy directly from the author. You can only request a copy if you wish to use this work for your own research or private study.|
|Affiliation:||University of Waikato|
Queen's University Belfast
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