What Are the Benefits of the Water Framework Directive? Lessons Learned for Policy Design from Preference Revelation
In: Environmental and resource economics, Volume 68, Issue 4, p. 847-873
ISSN: 1573-1502
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In: Environmental and resource economics, Volume 68, Issue 4, p. 847-873
ISSN: 1573-1502
In: VATT Institute for Economic Research Working Papers No. 66
SSRN
Working paper
In: Society and natural resources, Volume 34, Issue 7, p. 943-965
ISSN: 1521-0723
In: Environmental and resource economics, Volume 77, Issue 3, p. 615-639
ISSN: 1573-1502
AbstractStudies on the public's implicit discount rate in the willingness to pay for environmental amenities have mostly employed contingent valuation surveys. We investigate respondents' time preferences using choice experiments with four payment schedules in a split-sample design in the context of mire conservation. We first examine preference and taste heterogeneity among respondents, finding them to a large extent independent of payment schedules. Next we use an endogenous approach to jointly estimate the implicit discount rates and preferences using choice experiments data. We explore exponential and hyperbolic discounting model specifications. We find insensitivity to the length of the payment period and support for hyperbolic discounting. Furthermore, we provide policy relevant valuation results concerning mire conservation.
In: STOTEN-D-22-27000
SSRN
In: Land use policy: the international journal covering all aspects of land use, Volume 113, p. 105909
ISSN: 0264-8377
In: Environmental and resource economics, Volume 61, Issue 2, p. 217-241
ISSN: 1573-1502
In: Marine policy, Volume 42, p. 20-30
ISSN: 0308-597X
In: Marine policy: the international journal of ocean affairs, Volume 42, p. 20-30
ISSN: 0308-597X