Global S&T Development Trend Analysis Platform of Resources and Environment
DOI | 10.1016/j.ecolecon.2018.08.020 |
A More Flexible Model or Simply More Effort? On the Use of Correlated Random Parameters in Applied Choice Studies | |
Mariel, Petr1; Meyerhoff, Juergen2 | |
2018-12-01 | |
发表期刊 | ECOLOGICAL ECONOMICS
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ISSN | 0921-8009 |
EISSN | 1873-6106 |
出版年 | 2018 |
卷号 | 154页码:419-429 |
文章类型 | Article |
语种 | 英语 |
国家 | Spain; Germany |
英文摘要 | The random parameter logit model has become the dominating model for analyzing stated choice data in environmental valuation. The unrestricted version of the model with correlated random parameters, however, is rarely applied. An important advantage of this specification is that the correlations between the parameters are not restricted to zero. These correlations can arise due to a behavioural phenomena or scale heterogeneity. One consequence of this might be that derived willingness-to-pay or to-accept estimates are under- or overestimated, providing decision makers with incorrect estimates. We compare both model specifications using data from a study about farmers' willingness to accept compensation for implementing agri-environmental measures in Brandenburg, Germany. For this data both model specifications - with and without correlated random parameters - provide similar willing-to-accept estimates, but the model with correlations performs better despite the higher number of parameters. As our findings could be case study specific, we want to encourage especially applied researchers to estimate also specifications with correlated random parameters. Applying only models with uncorrelated random parameters can result in biased estimates and thus provide incorrect information to decision makers. |
英文关键词 | Agri-environmental measures Choice experiment Correlated parameters Random parameter logit model |
领域 | 资源环境 |
收录类别 | SCI-E ; SSCI |
WOS记录号 | WOS:000446282700037 |
WOS关键词 | WILLINGNESS-TO-PAY ; FARMERS WILLINGNESS ; MIXED LOGIT ; TRADE-OFFS ; PREFERENCES ; DESIGN ; EFFICIENCY ; VALUATION ; SCHEMES ; AFFORESTATION |
WOS类目 | Ecology ; Economics ; Environmental Sciences ; Environmental Studies |
WOS研究方向 | Environmental Sciences & Ecology ; Business & Economics |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/15390 |
专题 | 资源环境科学 |
作者单位 | 1.Univ Basque Country, Dept Appl Econ Econometr & Stat 3, Avda Lehendakari Aguirre 83, E-48015 Bilbao, Spain; 2.Tech Univ Berlin, Inst Landscape Architecture & Environm Planning, D-10623 Berlin, Germany |
推荐引用方式 GB/T 7714 | Mariel, Petr,Meyerhoff, Juergen. A More Flexible Model or Simply More Effort? On the Use of Correlated Random Parameters in Applied Choice Studies[J]. ECOLOGICAL ECONOMICS,2018,154:419-429. |
APA | Mariel, Petr,&Meyerhoff, Juergen.(2018).A More Flexible Model or Simply More Effort? On the Use of Correlated Random Parameters in Applied Choice Studies.ECOLOGICAL ECONOMICS,154,419-429. |
MLA | Mariel, Petr,et al."A More Flexible Model or Simply More Effort? On the Use of Correlated Random Parameters in Applied Choice Studies".ECOLOGICAL ECONOMICS 154(2018):419-429. |
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