File Name: Inland Model Results and Implicit Prices.docx

Author: Robert Johnston, Clark University

Created: March 19, 2012

Purpose: Presents results for the Inland regional model and implicit prices.

Inland Model and Implicit Prices

Cost Parameter Fixed, Free Correlation Among Random Coefficients

(Matches Northeast Model Specification)

Random Parameters Logit Model

Dependent variable CHOICE

Log likelihood function -1790.27179

Restricted log likelihood -2285.11356

Chi squared [ 21 d.f.] 989.68353

Significance level .00000

McFadden Pseudo R-squared .2165502

Estimation based on N = 2080, K = 21

Information Criteria: Normalization=1/N

Normalized Unnormalized

AIC 1.74161 3622.54359

Fin.Smpl.AIC 1.74182 3622.99257

Bayes IC 1.79855 3740.98617

Hannan Quinn 1.76247 3665.94696

Model estimated: Mar 18, 2012, 18:37:35

R2=1-LogL/LogL* Log-L fncn R-sqrd R2Adj

No coefficients -2285.1136 .2166 .2126

Constants only -2267.8287 .2106 .2066

At start values -2209.1886 .1896 .1855

Response data are given as ind. choices

Replications for simulated probs. = 300

Halton sequences used for simulations

RPL model with panel has 721 groups

Variable number of obs./group =NUM_R

Hessian is not PD. Using BHHH estimator

Number of obs.= 2080, skipped 0 obs

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

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

|Random parameters in utility functions

NEITHER| -.25032 .35323 -.709 .4785

COM_FISH| .09898*** .03205 3.088 .0020

FISH_POP| .11198** .05370 2.085 .0370

FISH_SAV| .02470*** .00427 5.788 .0000

AQUATIC| .08669 .06599 1.314 .1890

|Nonrandom parameters in utility functions

COST| -.03186*** .00272 -11.709 .0000

|Diagonal values in Cholesky matrix, L.

NsNEITHE| .02650 2.01575 .013 .9895

NsCOM_FI| .00926 .33823 .027 .9782

NsFISH_P| .05860 .14788 .396 .6919

NsFISH_S| .03563 .02384 1.494 .1351

NsAQUATI| .04679 .69389 .067 .9462

|Below diagonal values in L matrix. V = L*Lt

COM_:NEI| .07264 .15307 .475 .6351

FISH:NEI| -.03065 .29751 -.103 .9180
FISH:COM| .02055 .32642 .063 .9498

FIS0:NEI| .00968 .03516 .275 .7831

FIS0:COM| -.00278 .02608 -.107 .9151

FISH:FIS| .03626 .02655 1.366 .1720

AQUA:NEI| .09161 .50491 .181 .8560

AQUA:COM| -.14490 .69692 -.208 .8353

AQUA:FIS| .41350 .58713 .704 .4813

AQU0:FIS| .27367 .52391 .522 .6014

|Standard deviations of parameter distributions

sdNEITHE| .02650 2.01575 .013 .9895

sdCOM_FI| .07322 .16944 .432 .6656

sdFISH_P| .06925 .20775 .333 .7389

sdFISH_S| .05182*** .00773 6.706 .0000

sdAQUATI| .52674 .40309 1.307 .1913

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

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

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Implicit Prices: Inland Model

(mean) wtp_com_mean (commercial fish populations)

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Percentiles Smallest

1% .6395993 -.0938303

5% 1.433265 -.0088139

10% 1.763356 .2014638 Obs 999

25% 2.339025 .210694 Sum of Wgt. 999

50% 3.10331 Mean 3.103769

Largest Std. Dev. 1.071029

75% 3.816275 6.233257

90% 4.412616 6.358788 Variance 1.147103

95% 4.831226 6.491235 Skewness .126369

99% 6.009865 6.519252 Kurtosis 3.098633

(mean) wtp_pop_mean (all fish populations)

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Percentiles Smallest

1% -.3015409 -1.420535

5% .7537106 -1.268832

10% 1.304537 -1.261931 Obs 999

25% 2.273479 -.9583381 Sum of Wgt. 999

50% 3.476679 Mean 3.480314

Largest Std. Dev. 1.716877
75% 4.656783 9.041138

90% 5.671353 9.293663 Variance 2.947667

95% 6.297943 9.488713 Skewness .1606621

99% 7.57174 9.878017 Kurtosis 3.101476

(mean) wtp_sav_mean (fish saved)

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Percentiles Smallest

1% .4145057 .3050528

5% .5517302 .3326098

10% .6006541 .3422334 Obs 999

25% .6941242 .3688079 Sum of Wgt. 999

50% .7820821 Mean .7826251

Largest Std. Dev. .1410865

75% .874112 1.198528

90% .9615312 1.216784 Variance .0199054

95% 1.009098 1.21872 Skewness -.0516839

99% 1.116598 1.308033 Kurtosis 3.354114

(mean) wtp_aquat_mean (aquatic ecological condition)

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Percentiles Smallest

1% -2.480116 -3.275314

5% -.8438313 -3.087861

10% -.0265768 -3.06842 Obs 999

25% 1.297394 -3.055972 Sum of Wgt. 999

50% 2.732188 Mean 2.702594

Largest Std. Dev. 2.111661

75% 4.127199 8.08226

90% 5.425924 8.139706 Variance 4.459113

95% 6.163943 8.473037 Skewness -.056463

99% 7.502766 8.655578 Kurtosis 2.881769

(mean) wtp_ne_mean (ASC for neither plan)

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Percentiles Smallest

1% -33.74792 -44.07451

5% -26.27759 -42.84349

10% -22.70578 -36.96168 Obs 999

25% -15.85074 -36.38767 Sum of Wgt. 999
50% -8.020065 Mean -7.818175

Largest Std. Dev. 11.37021

75% -.0014955 22.40633

90% 7.180955 23.43136 Variance 129.2818

95% 10.93285 26.43084 Skewness .0243559

99% 19.08721 26.5677 Kurtosis 2.817872