Mueller, Julie (2010) Estimating Arizona residents' willingness to pay to invest in research and development in solar energy: Working paper series--10-12. Working Paper. NAU W.A. Franke College of Business.
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Abstract
We estimate Arizona residents' Willingness to Pay (WTP) to invest in a solar energy research and development fund using data obtained from a dichotomous-choice contingent valuation mail survey. We examine differences in willingness to pay estimates using different categorizations for respondent uncertainty. We also employ both commonly used Maximum Likelihood and less frequently applied Bayesian estimation techniques. We find that respondent uncertainty has a statistically significant impact on WTP estimates, while WTP estimates are robust to different estimation techniques. Our robust specification with strict uncertainty coding indicates the average Arizona household is willing to pay approximately $17 per month to invest in research and development in solar energy.
| Item Type: | Monograph (Working Paper) |
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| Publisher’s Statement: | Copyright, where appropriate, is held by the author. |
| ID number or DOI: | 10-12 |
| Keywords: | Working paper, solar energy, willingness to pay, research and development |
| Subjects: | H Social Sciences > HJ Public Finance |
| NAU Depositing Author Academic Status: | Faculty/Staff |
| Department/Unit: | The W.A. Franke College of Business |
| Date Deposited: | 17 Oct 2015 20:11 |
| URI: | http://openknowledge.nau.edu/id/eprint/1491 |
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