search query: @indexterm Estimation / total: 433
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| Author: | Balcombe, K. Chalak, A. Fraser, I. |
| Title: | Model selection for the mixed logit with Bayesian estimation |
| Journal: | Journal of Environmental Economics and Management
2009 : MAR, VOL. 57:2, p. 226-237 |
| Index terms: | environmental economics models methodology estimation |
| Freeterms: | mixed logit willingness-to-pay |
| Language: | eng |
| Abstract: | This paper employs the mixed logit (ML) using Bayesian methods to examine willingness-to-pay (WTP) to consume bread produced with reduced levels of pesticides in order to ameliorate environmental quality, from data generated by a choice experiment. The marginal likelihood is used as preferable for Bayesian model comparison and testing. Models including constant and random parameters for a set of distributions are considered, along with models in 'preference space' and 'WTP space', and those allowing for misreporting. There is found strong support for the ML estimated in WTP space, and little support for fixing the price coefficient a common practice advocated and adopted in the environmental economics literature. There is weak evidence for misreporting. |
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