| Popis: |
The first essay is aimed to compare the single bounded model with both bivariate probit model and interval data model in terms of bias as well as statistical efficiency. The implication of Monte-Carlo simulation and empirical estimation in this paper is to test the usefulness of a dichotomous choice contingent valuation with follow-up survey. In terms of efficiency, bivariate probit model is not always better than single bounded model, and interval data model performs better than single bounded model only if the true means and true variances of the first and the second WTP are relatively close. As for biasedness, the estimated parameters from bivariate probit model are very close to those of single bounded model but those of interval data model show high discrepancy that also does not disappear as the sample size increases when the true means and true variances of the first and the second response are reasonably different. In the second essay, I develop a new method to diagnose inconsistency in dichotomous choice contingent valuation with follow-up questions. I show that the previous methods aimed to explain behavioral inconsistency in responses have ignored statistical inconsistency (non-perfect correlation between the initial and follow-up responses) and thus have provided a wrong direction to explain respondents’ inconsistency pattern. In addition, from an application of our method, I prove that one model can not encompass all possible inconsistency patterns in responses. I find that the behavioral inconsistency patterns are different both within and between data sets. In the third essay, I develop a theoretical model that is capable of explaining the existence of sustainable common pool resource equilibria in the absence of external regulation. I combine ideas from the literature on social norms in an iterative game theory framework to establish the existence of multiple sustainable common pool equilibria. |
