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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

Published online by Cambridge University Press:  26 January 2015

Juan Marcos González ,
John B. Loomis  and
Armando González-Cabán
Juan Marcos González
Affiliation:
Department of Agricultural and Resource Economics, Colorado State University, Fort Collins, CO
John B. Loomis
Affiliation:
Department of Agricultural and Resource Economics, Colorado State University, Fort Collins, CO
Armando González-Cabán
Affiliation:
USDA Forest Service, Pacific Southwest Research Station Forest Fire Laboratory, Riverside, CA
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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

contingent valuation modelsjoint estimationnonmarket valuationrecreationtravel cost modelsQ51
Type
Articles
Information
Journal of Agricultural and Applied Economics , Volume 40 , Issue 2 , August 2008 , pp. 681 - 695
Copyright
Copyright © Southern Agricultural Economics Association 2008

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