Combining Revealed and Stated Preference Data to Estimate Preferences for Residential Amenities: A GMM Approach

被引：23
|
作者：
Phaneuf, Daniel J. [1 ]
Taylor, Laura O. [2 ]
Braden, John B. [3 ]
机构：
[1] Univ Wisconsin, Dept Agr & Appl Econ, Madison, WI 53706 USA
[2] N Carolina State Univ, Dept Agr & Resource Econ, Raleigh, NC 27695 USA
[3] Univ Illinois, Dept Agr & Consumer Econ, Champaign, IL 61820 USA
来源：
LAND ECONOMICS | 2013年 / 89卷 / 01期
关键词：
CONTINGENT VALUATION; TRAVEL COST; TEMPORARY; BENEFITS; DEMAND; IMPACT; SITES;
D O I：
10.3368/le.89.1.30
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We show how stated preference information obtained from a choice experiment, and revealed preference information based on housing market transactions, can be combined via generalized method of moments (GMM) estimation. Specifically, we use a moment condition matching the predicted marginal willingness to pay (WTP) from a first-stage hedonic model to the marginal WTP formula implied by the choice experiment utility function. This is coupled with other moments from the choice experiment to produce GMM-based estimates of parameters that reflect the strengths of each data source. Our application values remediation of a contaminated site in Buffalo, New York, and we find evidence in support of estimates arising from our approach.
引用
收藏
页码：30 / 52
页数：23
相关论文
共 50 条
12345