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| Gelso, Brett R.; Peterson, Jeffrey M.. |
| Recent literature has combined Revealed (RP) and Stated Preference (SP) data in the Multinomial Logit Model (MNL) to estimate the value of environmental goods. However, emerging research has identified that a limitation of the MNL is the assumption of Independently and Identically Distributed (IID) errors, resulting in inaccurate model predictions and inconsistent utility parameters. Our analysis applies an alternative method to combine RP and SP data that takes into account the heterogeneity in both the observable and unobservable components of utility. This allows us to test whether such heterogeneity has an important effect on predicting behavioral choices. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Revealed and Stated Preference Data; Scale Factor; Environmental Economics and Policy. |
| Ano: 2004 |
URL: http://purl.umn.edu/34746 |
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| Gelso, Brett R.; Fox, John A.. |
| The purpose of this study was to identify the cost of permanent and seasonal wetlands to Kansas Agricultural producers. The analysis was based on survey data collected from Kansas Farm Management Association members. Regression analysis indicated that wetlands are costly to agricultural producers. Permanent wetlands were found to be slightly more costly than seasonal wetlands. Importantly, the results suggested dispersed wetlands are more costly to Kansas farms compared to contiguous wetlands. This study provides information that could be useful in determining farm policy. A subsidy to aggregate wetland acres was expected to reduce costs to producers, while also benefiting society from increased biodiversity. |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Land Economics/Use. |
| Ano: 2001 |
URL: http://purl.umn.edu/36115 |
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