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File Name: Northeast Model Results and Implicit Prices.docx Author: Robert Johnston, Clark University Created: November 8, 2011 Purpose: Presents results for the unweighted Northeast regional model and implicit prices.
Northeast Unweighted Model Results

Normal exit: 4 iterations. Status=0. F= 1086.543

----------------------------------------------------------- Start values obtained using MNL model Dependent variable Choice Log likelihood function -1086.54273 Estimation based on N = 1060, K = 6 Information Criteria: Normalization=1/N

Normalized Unnormalized AIC 2.06140 2185.08546 Fin.Smpl.AIC 2.06148 2185.16524 Bayes IC 2.08951 2214.88161 Hannan Quinn 2.07205 2196.37800 Model estimated: Nov 07, 2011, 17:41:08 R2=1-LogL/LogL* Log-L fncn R-sqrd R2Adj Constants only -1141.3372 .0480 .0385 Response data are given as ind. choices Number of obs.= 1060, skipped 0 obs

--------+-------------------------------------------------- Variable| Coefficient Standard Error b/St.Er. P[|Z|>z]

--------+-------------------------------------------------- NEITHER| -.03710 .18108 -.205 .8377 COM_FISH| .05065** .02348 2.157 .0310 FISH_POP| -.00660 .03706 -.178 .8587 FISH_SAV| .01204*** .00129 9.309 .0000 AQUATIC| .08914** .03722 2.395 .0166 COST| -.01310*** .00236 -5.555 .0000

--------+-------------------------------------------------- Note: ***, **, * = Significance at 1%, 5%, 10% level.

----------------------------------------------------------- Line search does not improve fn. Exiting optimization.

----------------------------------------------------------- Random Parameters Logit Model Dependent variable CHOICE Log likelihood function -905.32776 Restricted log likelihood -1164.52903 Chi squared [ 21 d.f.] 518.40253 Significance level .00000 McFadden Pseudo R-squared .2225803 Estimation based on N = 1060, K = 21 Information Criteria: Normalization=1/N

Normalized Unnormalized AIC 1.74779 1852.65553 Fin.Smpl.AIC 1.74863 1853.54570 Bayes IC 1.84617 1956.94203 Hannan Quinn 1.78507 1892.17940

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Model estimated: Nov 07, 2011, 17:51:17 R2=1-LogL/LogL* Log-L fncn R-sqrd R2Adj No coefficients -1164.5290 .2226 .2148 Constants only -1141.3372 .2068 .1988 At start values -1086.5427 .1668 .1584 Response data are given as ind. choices Replications for simulated probs. = 300 Halton sequences used for simulations RPL model with panel has 367 groups Variable number of obs./group =NUM_R Hessian is not PD. Using BHHH estimator Number of obs.= 1060, skipped 0 obs

--------+-------------------------------------------------- Variable| Coefficient Standard Error b/St.Er. P[|Z|>z]

--------+--------------------------------------------------

|Random parameters in utility functions NEITHER| -.08269 .36139 -.229 .8190 COM_FISH| .20338*** .05351 3.801 .0001 FISH_POP| .07493 .08347 .898 .3693 FISH_SAV| .03044*** .00519 5.868 .0000 AQUATIC| .20973** .08991 2.333 .0197

|Nonrandom parameters in utility functions COST| -.02792*** .00447 -6.239 .0000 |Diagonal values in Cholesky matrix, L. NsNEITHE| .03823 1.05647 .036 .9711 NsCOM_FI| .11916 .20280 .588 .5568 NsFISH_P| .11595 .41727 .278 .7811 NsFISH_S| .00575 .03888 .148 .8825 NsAQUATI| .00746 .69050 .011 .9914

|Below diagonal values in L matrix. V = L*Lt COM_:NEI| -.12870 .24292 -.530 .5962 FISH:NEI| -.10114 .59089 -.171 .8641 FISH:COM| .09108 .43264 .211 .8333 FIS0:NEI| -.03455 .05161 -.669 .5032 FIS0:COM| .00218 .03711 .059 .9531 FISH:FIS| -.04383 .03707 -1.182 .2371 AQUA:NEI| -.08985 .55768 -.161 .8720 AQUA:COM| .08289 .53992 .154 .8780 AQUA:FIS| -.10091 .46181 -.219 .8270 AQU0:FIS| -.21448 .24289 -.883 .3772

|Standard deviations of parameter distributions sdNEITHE| .03823 1.05647 .036 .9711 sdCOM_FI| .17539 .28451 .616 .5376 sdFISH_P| .17880 .31559 .567 .5710 sdFISH_S| .05615*** .01159 4.845 .0000 sdAQUATI| .26680 .33937 .786 .4318

--------+-------------------------------------------------- Note: ***, **, * = Significance at 1%, 5%, 10% level.

-----------------------------------------------------------


### Northeast Implicit Prices

(mean) wtp_com_mean (COMMERCIAL FISH POPULATIONS)

------------------------------------------------------------- Percentiles Smallest

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1% 2.693975 .3951785 5% 4.139024 1.292966 10% 4.783731 1.957414 Obs 1000 25% 5.958498 1.973938 Sum of Wgt. 1000

50% 7.215217 Mean 

### 7.349289 Largest Std. Dev. 2.145413 75% 8.689623 15.12652 90% 10.04024 15.71999 Variance 4.602798 95% 11.1353 16.10493 Skewness .4626784 99% 13.17953 16.52213 Kurtosis 3.824632

(mean) wtp_pop_mean (ALL FISH POPULATIONS)

------------------------------------------------------------- Percentiles Smallest 1% -4.492514 -7.851726 5% -2.317922 -6.643063 10% -1.19219 -6.106448 Obs 1000 25% .4702606 -5.496103 Sum of Wgt. 1000

50% 2.736312 

### Mean 2.662862 Largest Std. Dev. 3.134005 75% 4.622404 12.57014 90% 6.565301 13.24605 Variance 9.821986 95% 7.71069 13.90588 Skewness .1769587 99% 10.32604 15.88666 Kurtosis 3.397313

(mean) wtp_sav_mean (FISH SAVED)

------------------------------------------------------------- Percentiles Smallest 1% .6307923 .3893836 5% .7626769 .5337396 10% .8352999 .5398854 Obs 1000 25% .972112 .5576977 Sum of Wgt. 1000

50% 1.107931 

### Mean 1.115577 Largest Std. Dev. .2226396 75% 1.253715 1.883359 90% 1.385205 1.905408 Variance .0495684 95% 1.508898 1.955827 Skewness .4012826 99% 1.680383 2.309719 Kurtosis 4.100429

(mean) wtp_aquat_mean (AQUATIC CONDITION)

------------------------------------------------------------- Percentiles Smallest 1% .2050134 -1.363462 5% 2.354741 -1.296743

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10% 3.275398 -1.268177 Obs 1000 25% 5.152472 -.7257515 Sum of Wgt. 1000

50% 7.601045 

### Mean 7.661013 Largest Std. Dev. 3.404162 75% 9.972235 16.30427 90% 12.31081 16.4189 Variance 11.58832 95% 13.44854 17.20496 Skewness .1599095 99% 15.66497 20.30567 Kurtosis 2.803974

(mean) wtp_ne_mean (NEITHER)

------------------------------------------------------------- Percentiles Smallest 1% -30.88248 -47.43936 5% -22.52037 -40.05936 10% -18.96277 -38.84992 Obs 1000 25% -11.88988 -35.218 Sum of Wgt. 1000

50% -3.166848 

### Mean -2.415998 Largest Std. Dev. 13.3945 75% 6.343964 38.06396 90% 14.871 40.50648 Variance 179.4126 95% 19.87687 48.35408 Skewness .2632551 99% 31.91703 50.98003 Kurtosis 3.271161