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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

Juan Marcos Gonzalez, John Loomis and Armando Gonzalez-Caban

Journal of Agricultural and Applied Economics, 2008, vol. 40, issue 2, 15

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.

Keywords: Agribusiness; Demand and Price Analysis; Productivity Analysis (search for similar items in EconPapers)
Date: 2008
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DOI: 10.22004/ag.econ.47207

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