Joint estimation of discount rates and willingness to pay for public goods

A Review of the Elements of Human Well-Being with an Emphasis on the Contribution of Ecosystem Services

“…The methods described include direct and indirect methods, applying both observed behavior and hypothetical markets. Numerous economists and ecologists have tried to embrace aspects of ecosystem services within more traditional economic methods-cost-benefit ratios, economics of choice, contingent valuation, return on investment, discount rates and willingness to pay, valuation of non-market goods, attribute-based choice, production function, equity, credits, benefits-based transfer functions, and modeling (Englin et al 1997;Chichilnisky and Heal 1998;Boyd et al 2001;Chambers and Whitehead 2003;Poudyal et al 2003;Ackerman et al 2007;Fisher and Erickson 2007;Boyd 2008;Arana and Leon 2009;Bond et al 2009;Colombo et al 2009;Hoyos et al 2009). Some economists believe the pricing structure for valuing ecosystems and their services are simply limited or wrong (Boyd and Banzhaf 2007;Boyd 2008).…”

Three reasons to use annual payments in contingent valuation surveys: Convergent validity, discount rates, and mental accounting

“…When respondents compare their known annual WTP (Kovacs and Larson, 2008) to a proposed annual payment, discount rates cancel out in their benefit-cost analysis. When asked to make a one-time payment for a long-lasting environmental improvement, respondents must know their personal discount rate and perform the relevant present value calculation, while having complete fungibility of their income across time and no binding budget or liquidity constraints (Bond et al, 2009). Second, we conduct a convergent validity test by comparing CV estimates from surveys with one-time and ongoing annual payments to annual consumer surplus estimates from a travel cost analysis.…”

Valor de conservación en bosques de comunidades indígenas: Un estudio de caso en la Amazonia Peruana, San Jacinto y Puerto Arturo

“…Para determinar el valor de conservación del bosque, se utilizó el MVC a través de la DAC mínima (Azqueta, 1994;Bond, Cullen, y Larson, 2009;NOAA, 1993;Ramli, Samdin, y Ghani, 2017;Riera, 1994). El análisis utiliza una estadística descriptiva y paramétrica.…”

“…El análisis utiliza una estadística descriptiva y paramétrica. Para ello, se aplicó una regresión logística; modelo logit de elección dicotómica (1), efectos marginales y capacidad predictiva (Baetschmann, Staub, y Winkelmann, 2015;Bond et al, 2009;Fu, 1999), para todos los casos se aplicó el paquete estadístico STATA.…”

“…Para evitar el "sesgo de partida" de la DAC, previamente se hizo la encuesta piloto, con la finalidad de aproximar la pregunta del encuestador de la DAC a la verdadera DAC (Bond et al, 2009;Ramli et al, 2017;Riera, 1994).…”