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Minimax D-optimal designs of contingent valuation experiments: willingness to pay for environmentally friendly clothes
Stockholm University, Sweden .
Linköping University, Department of Computer and Information Science, Statistics. Linköping University, The Institute of Technology.
2014 (English)In: Journal of Applied Statistics, ISSN 0266-4763, E-ISSN 1360-0532, Vol. 41, no 4, 895-908 p.Article in journal (Refereed) Published
Abstract [en]

This paper demonstrates how to plan a contingent valuation experiment to assess the value of ecologically produced clothes. First, an appropriate statistical model (the trinomial spike model) that describes the probability that a randomly selected individual will accept any positive bid, and if so, will accept the bid A, is defined. Secondly, an optimization criterion that is a function of the variances of the parameter estimators is chosen. However, the variances of the parameter estimators in this model depend on the true parameter values. Pilot study data are therefore used to obtain estimates of the parameter values and a locally optimal design is found. Because this design is only optimal given that the estimated parameter values are correct, a design that minimizes the maximum of the criterion function over a plausable parameter region (i.e. a minimax design) is then found.

Place, publisher, year, edition, pages
Taylor and Francis (Routledge): STM, Behavioural Science and Public Health Titles , 2014. Vol. 41, no 4, 895-908 p.
Keyword [en]
minimax optimal design; contingent valuation experiment; logistic model; trinomial spike model; H-algorithm
National Category
Engineering and Technology
URN: urn:nbn:se:liu:diva-105739DOI: 10.1080/02664763.2013.858670ISI: 000331786700012OAI: diva2:710359
Available from: 2014-04-07 Created: 2014-04-04 Last updated: 2014-04-07

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