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          Volume 40, Number 02, August 2008 >

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Title: A Joint Estimation Method to Combine Dichotomous Choice CVM Models with Count Data TCM Models Corrected for Truncation and Endogenous Stratification
Authors: Gonzalez, Juan Marcos
Loomis, John B.
Gonzalez-Caban, Armando
Keywords: contingent valuation models
joint estimation
nonmarket valuation
travel cost models
JEL Codes: Q51
Issue Date: 2008-08
Abstract: We update the joint estimation of revealed and stated preference data of previously published research to allow for joint estimation of the Travel Cost Method (TCM) portion using count data models. The TCM estimation also corrects for truncation and endogenous stratification as well as overdispersion. The joint estimation allows for testing consistency of behavior between revealed and stated preference data rather than imposing it. We find little gain in estimation efficiency, but our joint estimation might make a significant improvement in estimation efficiency when the contingent valuation scenarios involve major changes in site quality not reflected in the TCM data.
Institution/Association: Journal of Agricultural and Applied Economics>Volume 40, Number 02, August 2008
Total Pages: 15
From Page: 681
To Page: 695
Collections:Volume 40, Number 02, August 2008

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