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Use Of Chamberlain Fixed Effects Approach To Estimate Willingness-To-Pay For Little Tennessee River Basin Management Alternatives

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  • Bergstrom, John C.
  • Holmes, Thomas P.
  • Huszar, Eric
  • Kask, Susan B.
  • Volinskiy, Dmitriy
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    Abstract

    The paper discusses an application of Chamberlain's fixed effects model to contingent valuation method survey data obtained for eight management alternatives for the Little Tennessee River basin. The advantages of using this approach versus cross-sectional logit, pooled logit, and cross-sectional logit with lags are discussed and a technique to obtain willingness-to-pay estimates from estimated coefficients is offered. Drawbacks of using Chamberlain's fixed effects model, difficulties encountered, and directions for further research are presented.

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    File URL: http://purl.umn.edu/35195
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    Bibliographic Info

    Paper provided by Southern Agricultural Economics Association in its series 2003 Annual Meeting, February 1-5, 2003, Mobile, Alabama with number 35195.

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    Date of creation: 2003
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    Handle: RePEc:ags:saeatm:35195

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    Keywords: Environmental Economics and Policy;

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    1. Hsiao, C., 1992. "Logit and Probit Models," Papers 9210, Southern California - Department of Economics.
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