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A Hierarchical Bayes Approach To Modeling Choice Data: A Study Of Wetland Restoration Programs

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  • Eisen-Hecht, Jonathan I.
  • Kramer, Randall A.
  • Huber, Joel

Abstract

This study examines the factors the influence the values and importance that landowners place on the attributes of voluntary wetland restoration programs. Choice-based conjoint analysis, a stated preference method, was used to estimate the marginal utilities and values for restoration program attributes for North Carolina landowners. Landowner preferences were estimated at individual and aggregate levels to examine the importance of modeling heterogeneous preferences. Choice modeling performed at both aggregate and individual levels demonstrated the information gains from a disaggregated approach.

Suggested Citation

  • Eisen-Hecht, Jonathan I. & Kramer, Randall A. & Huber, Joel, 2004. "A Hierarchical Bayes Approach To Modeling Choice Data: A Study Of Wetland Restoration Programs," 2004 Annual meeting, August 1-4, Denver, CO 20253, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    • Handle: RePEc:ags:aaea04:20253
    DOI: 10.22004/ag.econ.20253
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    References listed on IDEAS

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    1. Wiktor Adamowicz & Peter Boxall & Michael Williams & Jordan Louviere, 1998. "Stated Preference Approaches for Measuring Passive Use Values: Choice Experiments and Contingent Valuation," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 80(1), pages 64-75.
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    3. Adamowicz, Wiktor & Swait, Joffre & Boxall, Peter & Louviere, Jordan & Williams, Michael, 1997. "Perceptions versus Objective Measures of Environmental Quality in Combined Revealed and Stated Preference Models of Environmental Valuation," Journal of Environmental Economics and Management, Elsevier, vol. 32(1), pages 65-84, January.
    4. Adamowicz, Wiktor L. & Boxall, Peter C. & Williams, Michael & Louviere, Jordan, 1995. "Stated Preference Approaches for Measuring Passive Use Values: Choice Experiments versus Contingent Valuation," Staff Paper Series 24126, University of Alberta, Department of Resource Economics and Environmental Sociology.
    5. Louviere,Jordan J. & Hensher,David A. & Swait,Joffre D. With contributions by-Name:Adamowicz,Wiktor, 2000. "Stated Choice Methods," Cambridge Books, Cambridge University Press, number 9780521788304.
    6. Elie Ofek & V. Srinivasan, 2002. "How Much Does the Market Value an Improvement in a Product Attribute?," Marketing Science, INFORMS, vol. 21(4), pages 398-411, June.
    7. Paul E. Green & Abba M. Krieger & Yoram Wind, 2001. "Thirty Years of Conjoint Analysis: Reflections and Prospects," Interfaces, INFORMS, vol. 31(3_supplem), pages 56-73, June.
    8. van Vuuren, W. & Roy, P., 1993. "Private and social returns from wetland preservation versus those from wetland conversion to agriculture," Ecological Economics, Elsevier, vol. 8(3), pages 289-305, December.
    9. Daniel McFadden & Kenneth Train, 2000. "Mixed MNL models for discrete response," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 15(5), pages 447-470.
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