Modifying willingness to pay estimates where respondents mis-report their preferencesBalcombe, K., Bailey, A., Chalak, A. and Fraser, I. (2008) Modifying willingness to pay estimates where respondents mis-report their preferences. Applied Economics Letters, 15 (5). pp. 327-330. ISSN 1350-4851 Full text not archived in this repository. It is advisable to refer to the publisher's version if you intend to cite from this work. See Guidance on citing. To link to this item DOI: 10.1080/13504850600706123 Abstract/SummaryThe likelihood for the Logit model is modified, so as to take account of uncertainty associated with mis-reporting in stated preference experiments estimating willingness to pay (WTP). Monte Carlo results demonstrate the bias imparted to estimates where there is mis-reporting. The approach is applied to a data set examining consumer preferences for food produced employing a nonpesticide technology. Our modified approach leads to WTP that are substantially downwardly revised.
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