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A Joint Estimation Method to Combine Dichotomous Choice CVM Models with Count Data TCM Models Corrected for Truncation and Endogenous Stratification

Author

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  • Gonzalez, Juan Marcos
  • Loomis, John B.
  • Gonzalez-Caban, Armando

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.

Suggested Citation

  • Gonzalez, Juan Marcos & Loomis, John B. & Gonzalez-Caban, Armando, 2008. "A Joint Estimation Method to Combine Dichotomous Choice CVM Models with Count Data TCM Models Corrected for Truncation and Endogenous Stratification," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 40(2), pages 1-15, August.
  • Handle: RePEc:ags:joaaec:47207
    DOI: 10.22004/ag.econ.47207
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    File URL: http://ageconsearch.umn.edu/record/47207/files/jaae-40-02-681.pdf
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    References listed on IDEAS

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    1. Shaw, Daigee, 1988. "On-site samples' regression : Problems of non-negative integers, truncation, and endogenous stratification," Journal of Econometrics, Elsevier, vol. 37(2), pages 211-223, February.
    2. Daniel Hellerstein & Robert Mendelsohn, 1993. "A Theoretical Foundation for Count Data Models," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 75(3), pages 604-611.
    3. Christopher D. Azevedo & Joseph A. Herriges & Catherine L. Kling, 2003. "Combining Revealed and Stated Preferences: Consistency Tests and Their Interpretations," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 85(3), pages 525-537.
    4. Gregory L. Poe & Kelly L. Giraud & John B. Loomis, 2005. "Computational Methods for Measuring the Difference of Empirical Distributions," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 87(2), pages 353-365.
    5. Trudy Ann Cameron, 1992. "Combining Contingent Valuation and Travel Cost Data for the Valuation of Nonmarket Goods," Land Economics, University of Wisconsin Press, vol. 68(3), pages 302-317.
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    Citations

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    Cited by:

    1. Luís Cruz & Paula Simões & Eduardo Barata, 2014. "Combining Observed and Contingent Travel Behaviour: The Best of Both Worlds?," Notas Económicas, Faculty of Economics, University of Coimbra, issue 40, pages 7-25, December.
    2. Lienhoop, Nele & Ansmann, Till, 2011. "Valuing water level changes in reservoirs using two stated preference approaches: An exploration of validity," Ecological Economics, Elsevier, vol. 70(7), pages 1250-1258, May.
    3. Henry, Miguel & Mittelhammer, Ron & Loomis, John, 2018. "An Information-Theoretic Approach to Estimating Willingness To Pay for River Recreation Site Attributes," MPRA Paper 89842, University Library of Munich, Germany.
    4. John C. Whitehead & Pamela Wicker, 2017. "Using Willingness to Travel to Estimate the Monetary Value of Intangible Benefits Derived from Active Sport Event Tourism," Working Papers 17-03, Department of Economics, Appalachian State University.
    5. repec:eee:touman:v:60:y:2017:i:c:p:130-139 is not listed on IDEAS
    6. Henry-Osorio, Miguel & Mittelhammer, Ronald C., 2012. "An Information-Theoretic Approach to Modeling Binary Choices: Estimating Willingness to Pay for Recreation Site Attributes," 2012 Annual Meeting, August 12-14, 2012, Seattle, Washington 123432, Agricultural and Applied Economics Association.
    7. repec:eee:touman:v:65:y:2018:i:c:p:160-169 is not listed on IDEAS

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