by Bruno Wichmann, department of Agricultural Economics at the University of Alberta
Third summer session begins
Location: SUNY Oswego
Friday, July 3, 12:48 p.m. - 12:48 p.m.
Rice Creek Ramble
Guided walk showing visitors what creatures are around, what they eat and where they live. Participants should dress for the weather and call 312-6677 the morning of the hike to check trail conditions. Program size is limited; unable to accommodate groups. An adult must accompany children. Free.
Location: Rice Creek Field Station
Saturday, July 11, 11 a.m. - noon
Men's Soccer vs. St John Fisher Scrimmage (Time TBA)
Friday, July 3, 12:44 p.m. - 12:44 p.m.
Women's Soccer vs. St. Lawrence
Tuesday, Sept 1, 4 p.m. - 6 p.m.
GOLD Third Thursdays
Visit http://www.facebook.com/events/453070221388940 for the latest locations or suggest your own!
Location: Various Cities
Thursday, July 16, 6 p.m. - 8 p.m.
Harborfest Housing Available
Friday, July 3, 12:46 p.m. - 12:46 p.m.
Stated Preference (SP) valuation is often the only available approach to estimation of non-market values. Among SP elicitation formats, dichotomous choice has the potential to have important incentive compatibility properties and is therefore commonly used. This paper shows that yes/no responses are not independent when non-market values are influenced by social networks. However, the empirical literature has yet to attempt estimation of non-market values explicitly accommodating network effects. We investigate the statistical properties of estimates of mean willingness to pay obtained through standard econometric approaches that ignore social networks. Monte Carlo experiments using different types of simulated and real world social networks indicate that failure to account for network effects leads to underestimation of non-market values. We also show that spatial econometric models can be adapted to estimate non-market values when responses are socially connected.
A copy of this paper is available here.