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| Author: | Chen, H. Z. Randall, A. |
| Title: | Semi-nonparametric estimation of binary response models with an application to natural resource valuation |
| Journal: | Journal of Econometrics
1997 : JAN/FEB, VOL. 76:1/2, p. 323-340 |
| Index terms: | ESTIMATION MOTIVATION VALUATION NATURAL RESOURCES BINARY LOGIC MATHEMATICAL MODELS |
| Language: | eng |
| Abstract: | In this study, a semi-nonparametric binary response model is estimated to obtain the willingness to pay for the environmental quality improvement, when willingness to pay is restricted to be nonnegative. In the model estimation conventional maximum likelihood software is used. The generality can be assessed by a likelihood ratio test, because the semi-nonparametric model is the generalization of the parametric model. It is shown that the semi-nonparametric estimation provides a significant improvement over the parametric estimation. |
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