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| The Public’s Willingness to Pay for Improvement of Environment Quality:
A Hierarchical Bayesian Analysis |
| CAO Huai Shu, LIAO Hua |
| Beijing Institute of Technology, Beijing, China |
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Abstract In this paper, the public’s willingness to pay for the longrun air quality improvement is examined based on the internet survey data and the employed multinomial Probit model is estimated in a hierarchical Bayes framework. Our results show that the public’s willingness to pay for the longrun increase in air quality to the best level in our survey in 20 years is about 47 RMB per person per month for the next 5 years, and the discount rate of that payment is about 3.8%.
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Received: 14 September 2012
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2013, Vol. 10 
