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A Two-Sample Test for Threshold Crossing Latent Variables with Application to Valuation Studies

Walter Belluzzo
Journal of the Royal Statistical Society. Series C (Applied Statistics)
Vol. 55, No. 3 (2006), pp. 397-406
Published by: Wiley for the Royal Statistical Society
Stable URL: http://www.jstor.org/stable/4126393
Page Count: 10
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A Two-Sample Test for Threshold Crossing Latent Variables with Application to Valuation Studies
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Abstract

Contingent valuation researchers are often interested in a comparison of the underlying willingness-to-pay distributions in two independent studies. Since willingness to pay is not observable, traditional testing procedures for comparing distributions cannot be applied directly. The paper proposes a permutation test for this sort of comparison. The main distinguishing characteristic of the test proposed is that it does not rely on asymptotic approximations and facilitates the introduction of covariates. The permutation test is illustrated with the case of projects of investment for the improvement of two important Brazilian river basins.

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