Date of Award:


Document Type:


Degree Name:

Doctor of Philosophy (PhD)


Economics and Finance


Basudeb Biswas


The contingent valuation method (CVM) is used to evaluate the minimum compensation landowners require to forego production on farm riverbanks areas. The elicitation format used in the survey is a yes-no participation question followed by an open-ended question.

Chapter 2 presents the results of the survey. The Heckman approach is used in the econometric analysis to take care of the self-selection problem arising with this formatting of the questions. Chapter 3 is devoted to further examining the potential for undertaking valuation exercises using the willingness-to-accept format (WTA)

WTA estimates obtained with open-ended format are compared to WTA estimates obtained when respondents are placed in a "contingent first-price sealed-bird auction" setting. Results indicated that WTA values obtained in the two different settings were not statistically different. More generally, this chapter shows that the use of auctions can be successfully applied to the provision of public goods in the case of compensation demanded.

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