A HIERARCHICAL BAYES APPROACH TO MODELING CHOICE DATA: A STUDY OF WETLAND RESTORATION PROGRAMS

Jonathan I. Eisen-Hecht, Randall Kramer and Joel Huber

No 20253, 2004 Annual meeting, August 1-4, Denver, CO from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: This study examines the factors the influence the values and importance that landowners place on the attributes of voluntary wetland restoration programs. Choice-based conjoint analysis, a stated preference method, was used to estimate the marginal utilities and values for restoration program attributes for North Carolina landowners. Landowner preferences were estimated at individual and aggregate levels to examine the importance of modeling heterogeneous preferences. Choice modeling performed at both aggregate and individual levels demonstrated the information gains from a disaggregated approach.

Keywords: Research; Methods/; Statistical; Methods (search for similar items in EconPapers)
Pages: 34
Date: 2004
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea04:20253

DOI: 10.22004/ag.econ.20253

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