ECONOMETRICS OF ENVIRONMENTAL VALUATION: THE BAYESIAN INFERENCES ON WILLINGNESS TO PAY ESTIMATIONS
This study applied the Bayesian approach to estimate people’s willingness to pay (WTP) for mitigation of environmental hazards in oil producing areas in Nigeria. The Bayesian approach enabled estimation of the mixed logit model employing the normal and log-normal distributions of WTP parameters. The...
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| Format: | Article |
| Language: | English |
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Slovak University of Agriculture
2019-11-01
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| Series: | Review of Agricultural and Applied Economics |
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| Online Access: | https://roaae.org/wp-content/uploads/RAAE_2_2019_Ukpong.pdf |