I conducted a questionnaire to evaluate (a part) of ecosystem services. To ask for respondents' WTP I asked them how much money would they pay more in entrance fee in order to contribute to conservation activity in the area from the choice below:
1. $0
2. < $5
3. $5 - $10
4 >$10
Could I use ordinal logistic regression to deal with the data. Or what should I do I get the mean of WTP to get the consumer surplus from the data? I would appreciate if someone could help me. Thank you in advance
The mean cannot be computed with ordinal data. Finding the mean requires you to perform arithmetic operations like addition and division on the values in the data set. Since the differences between adjacent scores are unknown with ordinal data, these operations cannot be performed for meaningful results
https://www.scribbr.com/statistics/ordinal-data/
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