Using Stated-Preference Questions to Investigate Variations in Willingness to Pay for Preserving Marble Monuments: Classic Heterogeneity, Random Parameters, and Mixture Models


Journal article


Edward R. Morey, Kathleen Greer Rossmann
Journal of Cultural Economics, vol. 27(3/4), 2003

DOI: https://link.springer.com/article/10.1023/A:1026365125898

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APA   Click to copy
Morey, E. R., & Rossmann, K. G. (2003). Using Stated-Preference Questions to Investigate Variations in Willingness to Pay for Preserving Marble Monuments: Classic Heterogeneity, Random Parameters, and Mixture Models. Journal of Cultural Economics, 27(3/4). https://doi.org/https://link.springer.com/article/10.1023/A:1026365125898


Chicago/Turabian   Click to copy
Morey, Edward R., and Kathleen Greer Rossmann. “Using Stated-Preference Questions to Investigate Variations in Willingness to Pay for Preserving Marble Monuments: Classic Heterogeneity, Random Parameters, and Mixture Models.” Journal of Cultural Economics 27, no. 3/4 (2003).


MLA   Click to copy
Morey, Edward R., and Kathleen Greer Rossmann. “Using Stated-Preference Questions to Investigate Variations in Willingness to Pay for Preserving Marble Monuments: Classic Heterogeneity, Random Parameters, and Mixture Models.” Journal of Cultural Economics, vol. 27, no. 3/4, 2003, doi:https://link.springer.com/article/10.1023/A:1026365125898.


BibTeX   Click to copy

@article{edward2003a,
  title = {Using Stated-Preference Questions to Investigate Variations in Willingness to Pay for Preserving Marble Monuments: Classic Heterogeneity, Random Parameters, and Mixture Models},
  year = {2003},
  issue = {3/4},
  journal = {Journal of Cultural Economics},
  volume = {27},
  doi = {https://link.springer.com/article/10.1023/A:1026365125898},
  author = {Morey, Edward R. and Rossmann, Kathleen Greer}
}

Abstract. This paper investigates heterogeneity in the preferences/WTP (willingness to pay) to preserve marble monuments in Washington, D.C. This is done in the context of three different discrete-choice random-utility models. The main focus is to estimate a mixture model of choices over preservation programs. This model captures the best features of random-parameters models and models that assume preference parameters are deterministic functions of observable characteristics of the individual. The mixture model, and it alone, predicts that increased preservation is a bad for a significant proportion of young, non-Caucasians. That some proportion of the population might consider preservation a bad is a contingency that should be planned for in efforts to value cultural resources. .
Keywords: choice experiments, mixture models, preference heterogeneity, random parameters




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