Parameter | Definition | Relation |
Bj | Bid amount |
|
M | Number of Bid amounts |
|
Nj | Number of no responses (WTP = 0) to bid Bj |
|
Yj | Number of yes responses (WTP = 1) to bid Bj |
|
Tj | Total number of offered bid Bj | Tj = Nj + Yj |
Fj | Pr (WTP ≤ 0) | Fj = Nj/Tj |