000			01814nam a2200265 a 4500
001			rea00030775
005			20190704021149.0
008			s2004 wau e 001 0 eng d
035			_z56727
039			_a30770 _cTLC
245	0	0	_aEstimating willingness-to-pay with random valuation models : _ban application to Lake Sevan, Armenia / _cBenoit Laplante et al.
260			_aWashington, D. C : _bWorld Bank, _c2004.
300			_a41p ; _c27 cm.
440		0	_aPolicy research working papers ; _vno. 3367
500			_aAlso available online.
500			_a"This paper presents a case study of willingness-to-pay (WTP) estimation using random valuation models. A contingenet valuation survey was conducted in Yerevan, Armenia to estimate people's WTP for the protection of Lake Sevan. Three elicitation formats-ope-ended, closed-ended, and the stochastic payment card (SPC) approach-were used with split random samples. WTP models with heterogeneous errors were constructed and estimated with the survey data. The SPC approach produces a higher estimation of the mean WTP than both the open-ended and closed-ended elicitation formats are similar. Furthermore, contrary to research findings obtained in the United States, this study finds higher WTP estimations with mail surveys than with personal interviews. This paper - a product of the Infrastructure and Environment Team, Development Research Group is part of a larger effort in the group to u
504			_aIncludes bibliographical references.
506			_aOpen access.
650		0	_aEnvironmental protection _xArmenia _xSevan Lake.
700	1		_aLaplante, Benoit, _d1960-
710	2		_aWorld Bank.
949			_aBSPC _bSPC _cHG3881.5 _d.W57 no.3367 _g56727 _5N
961			_t1
999			_c25124 _d25124