Modeling Willingness to Pay for Land Conservation Easements: Treatment of Zero and Protest Bids and Application and Policy Implications

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dc.creatorCho, Seong-Hoon
dc.creatorYen, Steven T.
dc.creatorBowker, James Michael
dc.creatorNewman, David H.
dc.date2017-04-01T16:27:12Z
dc.date.accessioned2026-07-09T04:37:35Z
dc.descriptionThis study compares an ordered probit model and a Tobit model with selection to take into account both true zero and protest zero bids while estimating the willingness to pay (WTP) for conservation easements in Macon County, NC. By comparing the two models, the ordered/unordered selection issue of the protest responses is analyzed to demonstrate how the treatment of protest responses can significantly influence WTP models. Both models consistently show that income and knowledge are positive and significant factors, while distance to poorer quality streams and duration of residency are negative and significant factors on WTP.
dc.identifierdoi:10.22004/ag.econ.45524
dc.identifierhttps://ageconsearch.umn.edu/record/45524/files/jaae-40-01-267.pdf
dc.identifierhttp://ageconsearch.umn.edu/record/45524
dc.identifier.urihttp://hdl.handle.net/123456789/552627
dc.languageeng
dc.publisher
dc.sourcehttp://ageconsearch.umn.edu/record/45524
dc.titleModeling Willingness to Pay for Land Conservation Easements: Treatment of Zero and Protest Bids and Application and Policy Implications
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