1 Erratum to: Environ Resource Econ DOI 10.1007/s10640-013-9672-9

The authors would like to point out that the 4th line of equation 8 should read

$$\begin{aligned} \begin{array}{l@{\quad }l} P\{1/1\}^{+}=1-\Phi (\alpha ^{+}+\beta ^{+}A_{u})&{}if\,A>0\\ P\{0/0\}^{+}=\Phi (\alpha ^{+}+\beta ^{+}A_{d})&{}if\,A>0\\ P\{1/0\}^{+}=\Phi (\alpha ^{+}+\beta ^{+}A_{u})-\Phi (\alpha ^{+}+\beta ^{+}A)&{}if\,A>0\\ P\{0/1\}^{+}=\Phi (\alpha ^{+}+\beta ^{+}A)-\Phi (\alpha ^{+}+\beta ^{+}A_{d})&{}if\,A>0\\ \end{array}\end{aligned}$$