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

Author

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

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.

Suggested Citation

  • Bergstrom, John C. & Holmes, Thomas P. & Huszar, Eric & Kask, Susan B. & Volinskiy, Dmitriy, 2003. "Use Of Chamberlain Fixed Effects Approach To Estimate Willingness-To-Pay For Little Tennessee River Basin Management Alternatives," 2003 Annual Meeting, February 1-5, 2003, Mobile, Alabama 35195, Southern Agricultural Economics Association.
    • Handle: RePEc:ags:saeatm:35195
    DOI: 10.22004/ag.econ.35195
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    References listed on IDEAS

    as
    1. Hsiao, C., 1992. "Logit and Probit Models," Papers 9210, Southern California - Department of Economics.
    2. W. Michael Hanemann, 1984. "Welfare Evaluations in Contingent Valuation Experiments with Discrete Responses," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 66(3), pages 332-341.
    3. Gary Chamberlain, 1980. "Analysis of Covariance with Qualitative Data," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 47(1), pages 225-238.
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