A semi-parametric estimator for revealed and stated preference data--An application to recreational beach visitation
AbstractWe present a semi-parametric approach for jointly estimating revealed and stated preference recreation demand models. The discrete factor method (DFM) allows for correlation across demand equations and incorporates unobserved heterogeneity. Our model is a generalized negative binomial with random effects; the random effect is composed of a discrete representation of unobserved heterogeneity and a factor loading that translates the heterogeneity measure into a demand effect. Our empirical application is to beach recreation demand in North Carolina. Statistical evidence supports our DFM specification, which imposes less restriction on model dispersion and incorporates unobserved heterogeneity in a flexible manner. Elasticity estimates are smaller than those derived from models with parametric specifications for unobserved heterogeneity, and welfare estimates are slightly larger (and less precise). While parametric models clearly dominate if the specification of unobserved heterogeneity is correct, the semi-parametric DFM provides a flexible alternative in cases where mis-specification is a potential problem.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Elsevier in its journal Journal of Environmental Economics and Management.
Volume (Year): 57 (2009)
Issue (Month): 2 (March)
Contact details of provider:
Web page: http://www.elsevier.com/locate/inca/622870
Beach recreation demand Revealed and stated preference Unobserved heterogeneity Semi-parametric;
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- D. Matthew Massey & George R. Parsons, 2008.
"State Dependence and Long Term Site Capital in a Random Utility Model of Recreation Demand,"
08-02, University of Delaware, Department of Economics.
- D. Matthew Massey & George R. Parsons, 2007. "State Dependence and Long Term Site Capital in a Random Utility Model of Recreation Demand," NCEE Working Paper Series 200711, National Center for Environmental Economics, U.S. Environmental Protection Agency, revised Dec 2007.
- Domanski, Adam, 2009. "Estimating Mixed Logit Recreation Demand Models With Large Choice Sets," 2009 Annual Meeting, July 26-28, 2009, Milwaukee, Wisconsin 49413, Agricultural and Applied Economics Association.
- Halkos, George, 2012. "The use of contingent valuation in assessing marine and coastal ecosystems’ water quality: A review," MPRA Paper 42183, University Library of Munich, Germany.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.