Journal of Cultural Economics

, Volume 27, Issue 3, pp 215–229

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

  • Edward Morey
  • Kathleen Greer Rossmann
Article

DOI: 10.1023/A:1026365125898

Cite this article as:
Morey, E. & Greer Rossmann, K. Journal of Cultural Economics (2003) 27: 215. doi:10.1023/A:1026365125898

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. Data and computer code are available athttp://www.colorado.edu/economics/morey/dataset.html.

choice experimentsmixture modelspreference heterogeneityrandom parameters

Copyright information

© Kluwer Academic Publishers 2003

Authors and Affiliations

  • Edward Morey
    • 1
  • Kathleen Greer Rossmann
    • 2
  1. 1.Boulder Economics DepartmentUniversity of ColoradoBoulderU.S.A
  2. 2.Birmingham-Southern CollegeBirminghamU.S.A