Resumen de Subscribed Content Tourists' evaluation of climate change risks in the Canary Islands: a heterogeneous response modelling approach
Carmelo Javier León González, Jorge E. Araña, Matías M. González Hernández, Javier de León Ledesma
This paper compares the differences between the monetary measures of willingness to accept and willingness to pay (WTP) for changes in climate change risk. The empirical evidence comes from tourists in the Canary Islands. The modelling approach utilizes a Bayesian mixture of normal distribution model that allows the authors to consider heterogeneity across both WTP and willingness to accept (WTA) question formats. The results show that the WTP for lower risks is lower than the WTA higher risks, and that the disparity between these measures depends on the market segments, the specific climate change risk and the characteristics of the individuals.
