Modelling of unintended effects with panel information in stated preference non-market valuation
Volinskiy, Dmitriy L
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The dissertation is concerned with practical modelling issues in stated preference non-market valuation applications when undesirable (unintended) e®ects are present. E®ects that are common to valuation studies are described and classi¯ed. Practical approaches and methods to build empirical models in view of unintended e®ects are reviewed and discussed. Three case studies follow up to illustrate the range of possibilities in empirical treatment of unintended e®ects. Case Study I implements a panel mixed logit model to account for respondents' heterogeneity in decision-making rules, a sample selection bias, and \warm glow." Case Study II is dedicated to respondents' rationality in a sequential multiple commodity valuation setting. It develops a stochastic model which is consistent with the axioms of re°exivity, transitivity, and continuity. Case Study III presents a fuzzy logic system as a practical solution to the issue of impossibility of exactly quantifying qualitative categories in commodity description and elicitation format options.