Abstract
AbstractThe contingent valuation method (CVM) is a widely used experimental method to measure the monetary value of goods. However, CVM estimates are sensitive to experiment design. In this study, we formulated the optimal design problem as a minimization problem of the Fisher information metric of a gradient vector field generated by using the statistical model of the CVM. Furthermore, a necessary and sufficient condition of the optimal design was proven.
Publisher
Springer Science and Business Media LLC
Subject
Applied Mathematics,Computational Theory and Mathematics,Computer Science Applications,Geometry and Topology,Statistics and Probability
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