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Unobserved characteristics within a ...

Murdock, Jennifer.

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Unobserved characteristics within a discrete choice model: An application to Wisconsin recreational fishing.

Record Type:	Language materials, printed : Monograph/item
Title/Author:	Unobserved characteristics within a discrete choice model: An application to Wisconsin recreational fishing./
Author:	Murdock, Jennifer.
Description:	115 p.
Notes:	Directors: Christopher D. Timmins; Steven T. Berry.
Contained By:	Dissertation Abstracts International63-10A.
Subject:	Agriculture, Fisheries and Aquaculture. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3068325
ISBN:	0493878718

Unobserved characteristics within a discrete choice model: An application to Wisconsin recreational fishing.
Murdock, Jennifer.

Unobserved characteristics within a discrete choice model: An application to Wisconsin recreational fishing. - 115 p.

Directors: Christopher D. Timmins; Steven T. Berry.

Thesis (Ph.D.)--Yale University, 2002.

This dissertation presents a new model of recreation demand that controls for the characteristics of recreation sites that are unobserved by the researcher. An empirical application to recreational fishing in Wisconsin illustrates the potential importance of this modeling innovation.

ISBN: 0493878718Subjects--Topical Terms:

1020913
Agriculture, Fisheries and Aquaculture.

Unobserved characteristics within a discrete choice model: An application to Wisconsin recreational fishing.
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020 $a 0493878718
035 $a (UnM)AAI3068325
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040 $a UnM $c UnM
100 1 $a Murdock, Jennifer. $3 1257469
245 1 0 $a Unobserved characteristics within a discrete choice model: An application to Wisconsin recreational fishing.
300 $a 115 p.
500 $a Directors: Christopher D. Timmins; Steven T. Berry.
500 $a Source: Dissertation Abstracts International, Volume: 63-10, Section: A, page: 3648.
502 $a Thesis (Ph.D.)--Yale University, 2002.
520 $a This dissertation presents a new model of recreation demand that controls for the characteristics of recreation sites that are unobserved by the researcher. An empirical application to recreational fishing in Wisconsin illustrates the potential importance of this modeling innovation.
520 $a Previous studies within the recreation demand literature have examined the implications of various restrictions placed on the commonly used discrete choice model. However, researchers have typically assumed that they observe all of the relevant characteristics of the recreation locations or allow for the possibility of unobserved characteristics in a very restrictive manner.
520 $a If ignored, unobserved characteristics cause estimates of the welfare effects of proposed improvements to be biased downward at locations that have desirable unobserved feature and biased upward at locations with undesirable unobserved features. The proposed model can obtain unbiased estimates of welfare even when some characteristics are not in available data. Monte Carlo simulations also motivate the proposed model by showing that when faced with unobserved characteristics it provides more reliable parameter estimates and unbiased standard errors whereas existing methods yield less reliable estimates and biased standard errors that overstate parameter precision and undermine hypothesis tests.
520 $a The empirical results show that unobserved characteristics are important in the Wisconsin fishing data that is quite detailed and comprehensive relative to that typically available. By one measure observed characteristics account for only half the differences among sites after adjusting for geographic location. Controlling for unobserved site characteristics substantially affects welfare estimates for a range of policy experiments including changes in land-use, management policies, and fish stocking programs, with some estimates differing by a factor of four.
520 $a Allowing for additional taste heterogeneity across anglers does not change the empirical result that controlling for unobserved characteristics is important. In fact; the evidence suggests that controlling for unobserved site characteristics is at least as important as allowing for taste heterogeneity and more flexible patterns of substitution, which have received considerable attention in the literature.
590 $a School code: 0265.
650 4 $a Agriculture, Fisheries and Aquaculture. $3 1020913
650 4 $a Economics, General. $3 1017424
650 4 $a Recreation. $3 535376
690 $a 0501
690 $a 0792
690 $a 0814
710 2 0 $a Yale University. $3 515640
773 0 $t Dissertation Abstracts International $g 63-10A.
790 $a 0265
790 1 0 $a Berry, Steven T., $e advisor
790 1 0 $a Timmins, Christopher D., $e advisor
791 $a Ph.D.
792 $a 2002
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3068325