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Investigating Preference Heterogeneity In A Repeated Discrete-Choice Recreation Demand Model Of Atlantic Salmon Fishing

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Author Info
Breffle, William S.
Morey, Edward R.
Abstract

Estimating a demand system under the assumption that preferences are homogeneous may lead to biased estimates of parameters for any specific individual and significantly different expected consumer surplus estimates. This paper investigates several different parametric methods to incorporate heterogeneity in the context of a repeated discrete-choice model. The first is the classic method of assuming utility to be a function of individual characteristics. Second, a random parameters method is proposed, where preference parameters have some known distribution. Random parameters logit causes the random components to be correlated across choice occasions and, in a sense, eliminates IIA. Simulation noise is discussed. Finally, methods are proposed to relax the assumption that the unobserved stochastic component of utility is identically distributed across individuals. For example, randomization of the logit scale, which is a new method, allows noise levels to vary across individuals without the added burden of explaining the source using covariates. The application is to Atlantic salmon fishing, and expected compensating variations and changes in trip patterns are compared across the models for three policy-relevant changes in fishing conditions at the Penobscot River, the best salmon fishing site in Maine.

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Article provided by Marine Resources Foundation in its journal Marine Resource Economics.

Volume (Year): 15 (2000)
Issue (Month): 1 ()
Pages:
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Handle: RePEc:ags:mareec:28168

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Keywords: Resource /Energy Economics and Policy;

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  1. Beggs, S. & Cardell, S. & Hausman, J., 1981. "Assessing the potential demand for electric cars," Journal of Econometrics, Elsevier, vol. 17(1), pages 1-19, September. [Downloadable!] (restricted)
  2. Morey, Edward R., 1981. "The demand for site-specific recreational activities: A characteristics approach," Journal of Environmental Economics and Management, Elsevier, vol. 8(4), pages 345-371, December. [Downloadable!] (restricted)
  3. Johnson, F. Reed & Desvousges, William H., 1997. "Estimating Stated Preferences with Rated-Pair Data: Environmental, Health, and Employment Effects of Energy Programs," Journal of Environmental Economics and Management, Elsevier, vol. 34(1), pages 79-99, September. [Downloadable!] (restricted)
  4. Cameron, Trudy Ann & Englin, Jeffrey, 1997. "Respondent Experience and Contingent Valuation of Environmental Goods," Journal of Environmental Economics and Management, Elsevier, vol. 33(3), pages 296-313, July. [Downloadable!] (restricted)
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  5. Chamberlain, Gary, 1984. "Panel data," Handbook of Econometrics, in: Z. Griliches† & M. D. Intriligator (ed.), Handbook of Econometrics, edition 1, volume 2, chapter 22, pages 1247-1318 Elsevier. [Downloadable!] (restricted)
  6. Provencher, Bill & Bishop, Richard C., 1997. "An Estimable Dynamic Model of Recreation Behavior with an Application to Great Lakes Angling," Journal of Environmental Economics and Management, Elsevier, vol. 33(2), pages 107-127, June. [Downloadable!] (restricted)
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  1. Francisco Javier Amador & Rosa Marina González & Juan de Dios Ortúzar, 2004. "Preference heterogeneity and willingness to pay for travel time," Documentos de trabajo conjunto ULL-ULPGC 2004-12, Facultad de Ciencias Económicas de la ULPGC. [Downloadable!]
  2. Birol, Ekin & Smale, Melinda & Gyovai, Ágnes, 2004. "Agri-environmental policies in a transitional economy: the value of agricultural biodiversity in Hungarian home gardens," EPTD discussion papers 117, International Food Policy Research Institute (IFPRI). [Downloadable!]
  3. Ricardo Scarpa & Mara Thiene & Kenneth Train, 2006. "Utility in WTP Space: A Tool to Address Confounding Random Scale Effects in Destination Choice to the Alps," Working Papers in Economics 06/15, University of Waikato, Department of Economics. [Downloadable!]
  4. Ekin Birol & Ágnes Gyovai & Melinda Smale, 2004. "Agri-Environmental Policies in a Transition Economy: Using a Choice Experiment to Value Agricultural Biodiversity on Hungarian Small Farms," Working Papers 2004.48, Fondazione Eni Enrico Mattei. [Downloadable!]
  5. Katia Karousakis & Ekin Birol, 2006. "Investigating Household Preferences for Kerbside Recycling Services in London: A Choice Experiment Approach," Environmental Economy and Policy Research Working Papers 18.2006, University of Cambridge, Department of Land Economics, revised 2006. [Downloadable!]
  6. R. Brau & A. E. Scorcu & L. Vici, 2007. "Assessing visitor satisfaction with tourism rejuvenation policies: the case of Rimini, Italy," Working Papers 617, Dipartimento Scienze Economiche, Universita' di Bologna. [Downloadable!]
    Other versions:
  7. Ekin Birol & Andreas Kontoleon & Melinda Smale, 2005. "Using a Choice Experiment to Estimate the Demand of Hungarian Farmers for Food Security and Agrobiodiversity During Economic Transition," Environmental Economy and Policy Research Working Papers 12.2005, University of Cambridge, Department of Land Economics, revised 2005. [Downloadable!]
  8. Falck-Zepeda, José & Kilkuwe, Enoch & Wesseler, Justus, 2008. "Introducing a genetically modified banana in Uganda: Social benefits, costs, and consumer perceptions," IFPRI discussion papers 767, International Food Policy Research Institute (IFPRI). [Downloadable!]
  9. Hu, Wuyang & Adamowicz, Wiktor L. & Veeman, Michele M., 2004. "Decomposing Unobserved Choice Variability In The Presence Of Consumers' Taste Heterogeneity," 2004 Annual meeting, August 1-4, Denver, CO 19954, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association). [Downloadable!]
  10. Edward Morey & Kathleen Greer Rossmann, 2003. "Using Stated-Preference Questions to Investigate Variations in Willingness to Pay for Preserving Marble Monuments: Classic Heterogeneity, Random Parameters, and Mixture Models," Journal of Cultural Economics, Springer, vol. 27(3), pages 215-229, November. [Downloadable!] (restricted)
  11. Sumaila, Ussif Rashid & Berman, Matthew, 2006. "Thalassorama - Discounting, Amenity Values, and Marine Ecosystem Restoration," Marine Resource Economics, Marine Resources Foundation, vol. 21(2). [Downloadable!]
  12. Ekin Birol & Katia Karousakis & Phoebe Koundouri, 2005. "Using a choice experiment to estimate the non-use values of wetlands: The case of Cheimaditida wetland in Greece," Environmental Economy and Policy Research Working Papers 08.2005, University of Cambridge, Department of Land Economics, revised 2005. [Downloadable!]
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