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Simplified Marginal Effects in Discrete Choice Models AgEcon
Anderson, Soren T.; Newell, Richard G..
We show that after a simple normalization of explanatory variables so that they equal zero at some desired reference point, marginal effects for continuous variables in probit and logit models simplify dramatically, becoming a function of only the estimated constant term. We present similar simplifications for computation of the asymptotic variance of marginal effects, as well as for the effects of dummy variables on predicted probabilities. We provide a simple table, which in combination with raw probit or logit estimates, is all one needs to compute the desired effects.
Tipo: Working or Discussion Paper Palavras-chave: Logit; Probit; Discrete choice; Binary choice; Marginal effect; Data normalization; Research Methods/ Statistical Methods; C25; C51; C81.
Ano: 2003 URL: http://purl.umn.edu/10631
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The Organization of Local Solid Waste and Recycling Markets: Public and Private Provision of Services AgEcon
Walls, Margaret; MacAuley, Molly K.; Anderson, Soren T..
We study determinants of market organization of local public services by an empirical examination of one of the most visible municipal services, residential waste management. Using a multinomial logit model and data for 1,000 U.S. communities, we explore the effect of political influence, voter ideology, environmental constraints, production costs (i.e., "economies of density"), and contracting transaction costs on a community's choice of market arrangement for waste collection and recycling. We find that cost factors are a significant determinant of service delivery method. In contrast, few of the political variables are statistically significant. These results hold for our models of both waste and recycling, lending further evidence to the conclusion...
Tipo: Working or Discussion Paper Palavras-chave: Market organization; Solid waste management; State and local government; Environmental Economics and Policy; Q20; H70.
Ano: 2003 URL: http://purl.umn.edu/10892
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Prospects for Carbon Capture and Storage Technologies AgEcon
Anderson, Soren T.; Newell, Richard G..
Carbon capture and storage (CCS) technologies remove carbon dioxide from flue gases for storage in geologic formations or the ocean. We find that CCS is technically feasible and economically attractive within the range of carbon policies discussed domestically and internationally. Current costs are about $200 to $250 per ton of carbon, although costs are sensitive to fuel prices and other assumptions and could be reduced significantly through technical improvements. Near-term prospects favor CCS for certain industrial sources and electric power plants, with storage in depleted oil and gas reservoirs. Deep aquifers may provide an attractive longer-term storage option, whereas ocean storage poses greater technical and environmental uncertainty. Vast...
Tipo: Working or Discussion Paper Palavras-chave: Carbon; Capture; Storage; Sequestration; Climate change; Technology; Environmental Economics and Policy; Q30; Q40; O30.
Ano: 2003 URL: http://purl.umn.edu/10879
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Information Programs for Technology Adoption: The Case of Energy-Efficiency Audits AgEcon
Anderson, Soren T.; Newell, Richard G..
We analyze technology adoption decisions of manufacturers in response to energy audits provided by Department of Energy Industrial Assessment Centers. Using fixed effects logit estimation to control for unobserved plant characteristics, we find that plants respond as expected to financial costs and benefits, though there are unmeasured project-related factors that also influence investment decisions. Revealed behavior of plants suggests that most require a payback of 15 months or less as their investment threshold, corresponding to an 80% or greater hurdle rate. This is consistent with survey results for stated investment thresholds, suggesting that these programs do not lower hurdle rates, as some suggest. Plants reject about half of recommended projects;...
Tipo: Working or Discussion Paper Palavras-chave: Energy efficiency; Information; Technology adoption; Energy audits; Research and Development/Tech Change/Emerging Technologies; Q41; Q48; O33; O38.
Ano: 2002 URL: http://purl.umn.edu/10916
Registros recuperados: 4
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