2009
DOI: 10.1111/j.1467-8276.2008.01182.x
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Valuing Water Quality as a Function of Water Quality Measures

Abstract: Employing a unique and rich data set of water quality attributes in conjunction with detailed household characteristics and trip information, we develop a mixed logit model of recreational lake usage. Our empirical analysis shows that individuals are responsive to the full set of water quality measures used by biologists to identify the impaired status of lakes. WTP estimates are reported based on improvements in these physical measures. This implies that cost benefit analysis based on water quality measures c… Show more

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Cited by 124 publications
(127 citation statements)
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References 29 publications
(26 reference statements)
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“…In contrast to comparing models based on the likelihood values with unknown sampling properties (as in, e.g., Egan et al, 2009), we propose a model that draws on the Bayesian paradigm to integrate the variable selection process into the model and reflect the accompanying uncertainty about which is the "best" specification used for counterfactual predictions.…”
Section: October 8 2010mentioning
confidence: 99%
See 4 more Smart Citations
“…In contrast to comparing models based on the likelihood values with unknown sampling properties (as in, e.g., Egan et al, 2009), we propose a model that draws on the Bayesian paradigm to integrate the variable selection process into the model and reflect the accompanying uncertainty about which is the "best" specification used for counterfactual predictions.…”
Section: October 8 2010mentioning
confidence: 99%
“…That is Q j,2 = Q j,1 + U (0, 1). This is to test the performance of our model when high correlation exists between the two 7 We also use the generated data as a guide to know how many draws will be needed for our application to achieve the same level of precision under independent and identical distribution (iid ) sampling.…”
Section: Generated Data Experimentsmentioning
confidence: 99%
See 3 more Smart Citations