Peeling back the onion: Using latent class analysis to uncover heterogeneous responses to stated preference surveys
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- handle: 10670/1.0tbdl8
- hal: hal-01784324
- doi: 10.1016/j.jeem.2017.06.006
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info:eu-repo/semantics/altIdentifier/doi/10.1016/j.jeem.2017.06.006
Mots-clés
Value per statistical life Latent class analysis Paradata Scope sensitivity Income elasticity Pesticides Children D - Microeconomics/D.D0 - General/D.D0.D03 - Behavioral Microeconomics: Underlying Principles D - Microeconomics/D.D6 - Welfare Economics/D.D6.D61 - Allocative Efficiency • Cost–Benefit Analysis D - Microeconomics/D.D6 - Welfare Economics/D.D6.D64 - Altruism • Philanthropy I - Health, Education, and Welfare/I.I1 - Health/I.I1.I18 - Government Policy • Regulation • Public Health Q - Agricultural and Natural Resource Economics • Environmental and Ecological Economics/Q.Q1 - Agriculture/Q.Q1.Q18 - Agricultural Policy • Food Policy Q - Agricultural and Natural Resource Economics • Environmental and Ecological Economics/Q.Q5 - Environmental Economics/Q.Q5.Q51 - Valuation of Environmental EffectsSujets proches
Methods of analysis Analysis and chemistry Analytical methods Chemical analysis Analysis methods Analysis and examinationCiter ce document
James Hammitt et al., « Peeling back the onion: Using latent class analysis to uncover heterogeneous responses to stated preference surveys », HAL-SHS : économie et finance, ID : 10.1016/j.jeem.2017.06.006
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Résumé
We develop validity tests for application to stated-preference estimates of WTP to reduce mortality risk, i.e., value per statistical life (VSL), and apply these to data obtained by surveying a representative sample of French adults over the internet. These tests (WTP nearly proportional to risk reduction, insensitive to small differences in baseline risk, increasing in income, and consistent with budget constraints) are satisfied by a conventional single-regression analysis of our data. Using latent class analysis (LCA), we identify important differences between respondents in their consistency with the validity tests and control for much of this heterogeneity. Estimates of VSL from the latent class that is consistent with the validity tests are smaller than estimates from the standard analysis. We estimate mean VSL for adults of about 2 million € and for children (based on parents' WTP) of about 6 million €.