Estimation of Recreation Value and Determining the Factors Effective in Visitors' WTP for Saint Stepanus Church Using the Heckman Two -stage and CV Methods
01 Jan 2009-
TL;DR: In this paper, the authors study the recreation value of the Saint Stepanus Church, one of the famous churches on the north-west of Iran, located on the edge of Aras River and find that 68% of the visitors were willing to pay money for visiting the church.
Abstract: Tourism with its special characteristics is considered as a dynamic industry with a shining future. Investment is continuously increasing in this industry in touristic countries. Tourism potentially income creating tool for historical countries such as Iran providing that there is a comprehensive and foresighted regulation and planning for such attractions. Aiming at helping the proper planning in this field, the current research studies recreation value of Saint Stepanus Church, one of the famous churches on the north-west of Iran, located on the edge of Aras River. Estimating the recreation value of this church can be effective in foreseeing the needs, eliminating the shortages and developing the tourism in the region. The main aims of this article are separation of influential factors on visitors' willingness to pay (WTP) for Saint Stepanus Church visiting costs using Heckman two-stage Method and Contingent Valuation Method (CVM). Required data was gathered through questionnaires and face-to-face interviews with 317 visitors of the church. Results showed that 68% of the visitors were willing to pay money for visiting the church. Variables of income, education levels, family size and the dummy variable of sexuality were effective in visitors' WTP for visiting and variables of income, family size, education level, age and the service satisfaction rate of visitors were effective in the rates of WTP. The average of WTP, using the CVM and Heckman method were estimated at 4034 and 4800 rials and the annual recreation value was estimated at about 322 and 384 million rials, respectively.
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Cites methods from "Estimation of Recreation Value and ..."
...According to Krinsky and Robb (1986), the parametric bootstrapping technique is applied to measure the confidence intervals for WTP estimates in each model....
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01 Jan 2019
TL;DR: In this paper, the authors used the Heckman-copula approach to study Iranian farmers' willingness to pay for Integrated Pest Management (IPM), which is a product protection system that is used for coordinated sustainable agriculture development.
Abstract: Integrated pest management (IPM) is a product protection system that is used for coordinated sustainable agriculture development. This paper uses the Heckman-copula approach to study Iranian farmers’ willingness to pay for IPM. IPM, which matches sustainable agriculture, is one of the best ways of protecting agricultural products. Therefore, the application of IPM can minimize the negative impact of pesticides on human beings and natural resources including wildlife. Heckman-copula is an efficient method to cope with the invalid assumption of joint normality in the maximum likelihood estimation of the sample-selection model. The copula approach frees us from this wrong assumption, so we can select appropriate marginal distribution for error terms in selection and outcome equations leading to more reliable results. The results of our study show that the logistic distribution of the selection equation and student’s t-distribution for the outcome equation are suitable. Moreover, the number of used IPM operations and knowledge of chemical pesticides’ risks have a positive and significant effect on the probability of WTP for IPM to avoid the negative effects of pesticides.
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TL;DR: In this article, the bias that results from using non-randomly selected samples to estimate behavioral relationships as an ordinary specification error or "omitted variables" bias is discussed, and the asymptotic distribution of the estimator is derived.
Abstract: Sample selection bias as a specification error This paper discusses the bias that results from using non-randomly selected samples to estimate behavioral relationships as an ordinary specification error or «omitted variables» bias. A simple consistent two stage estimator is considered that enables analysts to utilize simple regression methods to estimate behavioral functions by least squares methods. The asymptotic distribution of the estimator is derived.
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TL;DR: In this article, two distinct types of welfare measures are introduced and then estimated from Bishop and Heberlein's data, based on the hypothesis of utility maximization, and measures of compensating and equivalent surplus are derived from the fitted models.
Abstract: Since the work of Bishop and Heberlein, a number of contingent valuation experiments have appeared involving discrete responses which are analyzed by logit or similar techniques. This paper addresses the issues of how the logit models should be formulated to be consistent with the hypothesis of utility maximization and how measures of compensating and equivalent surplus should be derived from the fitted models. Two distinct types of welfare measures are introduced and then estimated from Bishop and Heberlein's data.
2,829 citations
"Estimation of Recreation Value and ..." refers background in this paper
...Whitehead and Finney [12] applied CVM for North Carolina Bank (America), which includes the remains of about 5000 drowned ships....
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Book•
17 Mar 1988TL;DR: In this article, the authors present an interweaving of inferential approaches and theory and practice in econometrics, and interweave inferential approach and theory in Econometric applications.
Abstract: This book interweaves inferential approaches and theory and practice in econometrics. Basic statistical and linear algebra concepts are introduced as they are needed to give life to the statistical model under study. Most econometric applications start with a tentative theory or hypothesis a sample of data and the goal of learning something about the phenomena under study from the limited set of observations. Therefore a sample of data that may be used to investigate a particular economic hypothesis is presented to motivate the analysis of each of the statistical models presented. This linkage between the economic process that is thought to have generated the data and a particular statistical model is a unifying theme throughout the book. It progresses from the special case of investigating the possibilities for determining the location and scale parameters for a population from a sample of observations to investigating a complex simultaneous system of structural equations under general stochastic assumptions. To ensure that the reader understands the basic concepts and conclusions as they relate to linear statistical models simple special case models are evaluated and then the analysis is repeated for the general case. The 1st half of book gives the student a solid introduction to the formulation and use of linear statistical models. The 2nd half introduces the student to the econometric problems that arise when it is taken into account that economic data are stochastic dynamic and simultaneous and that the optimal statistical procedure sometimes changes as we change the statistical model the amount and type of information used and the measure of performance.
2,377 citations
"Estimation of Recreation Value and ..." refers background in this paper
...[15] estimated the annual existence value of Iran's North jungles for each family to be about $30....
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TL;DR: The authors showed that the coefficients obtained from using Tobit-here called "beta" coefficients -provide more information than is commonly realized and showed that this decomposition can be quantified in rather useful and insightful ways.
Abstract: In this paper authors point out that the coefficients obtained from using Tobit-here called "beta" coefficients - provide more information than is commonly realized. In particular, authors show that Tobit can be used to determine both changes in the probability of being above the limit and changes in the value of the dependent variable if it is already above the limit$ and authors show that this decomposition can be quantified in rather useful and insightful ways.
1,960 citations
"Estimation of Recreation Value and ..." refers background in this paper
...[18] showed that the average WTP of individuals as an entrance fee for national park of Eskaftafel and Goolfus waterfall, Iceland, were 508 and 133 million ISk, respectively....
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