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Appears in Collections:Economics Journal Articles
Peer Review Status: Refereed
Title: Willingness to Pay for Rural Landscape Improvements: Combining Mixed Logit and Random-Effects Models
Authors: Campbell, Danny
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Keywords: Agri-environment
discrete-choice experiments
mixed logit
panel data
random effects
rural landscapes
willingness to pay
Issue Date: Sep-2007
Publisher: Wiley-Blackwell
Citation: Campbell D (2007) Willingness to Pay for Rural Landscape Improvements: Combining Mixed Logit and Random-Effects Models, Journal of Agricultural Economics, 58 (3), pp. 467-483.
Abstract: This paper reports the findings from a discrete-choice experiment designed to estimate the economic benefits associated with rural landscape improvements in Ireland. Using a mixed logit model, the panel nature of the dataset is exploited to retrieve willingness-to-pay values for every individual in the sample. This departs from customary approaches in which the willingness-to-pay estimates are normally expressed as measures of central tendency of an a priori distribution. Random-effects models for panel data are subsequently used to identify the determinants of the individual-specific willingness-to-pay estimates. In comparison with the standard methods used to incorporate individual-specific variables into the analysis of discrete-choice experiments, the analytical approach outlined in this paper is shown to add considerable explanatory power to the welfare estimates.
Type: Journal Article
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Rights: The publisher does not allow this work to be made publicly available in this Repository. Please use the Request a Copy feature at the foot of the Repository record to request a copy directly from the author. You can only request a copy if you wish to use this work for your own research or private study.
Affiliation: Economics

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