summary.dbchoice: Summarizing dbchoice estimation
Description
Summary method for objects of class "dbchoice".Usage
## S3 method for class 'dbchoice':
summary(object, \dots)## S3 method for class 'summary.dbchoice':
print(x, digits = max(3, getOption("digits") - 1), ...)
Arguments
object
an object of class "dbchoice".
x
an object of class "summary.dbchoice".
digits
a number of digits to display.
...
optional arguments. Currently not in use.
Value
- In addition to those available in the
object of the "dbchoice" class,
the following list components are added. - medianWTPthe estimated median WTP.
- meanWTPthe estimated mean WTP.
- trunc.meanWTPthe estimated mean WTP truncated at the maximum bid.
- adj.trunc.meanWTPthe truncated mean WTP with the adjustment of
Boyle et~al.(1988).
- LR.testa vector containing the likelihood ratio test statistic, the degrees
of freedom and the associated p-value. The null is that all the parameters on the explanatory variables other than constant and the bid variable are jointly zero.
- coefa table of estimates including their s.e., z-value, and p-value.
- AICinformation criterion (AIC and BIC).
Details
The function summary.dbchoice() computes and returns a list of summary
statistics of the fitted model in object of the "dbchoice" class. Some of the values are printed up to certain decimal places. Actual values of
individual components are displayed separately, for instance, by summary(object)$coefficients.
See the Value section for a list of components.
References
Boyle KJ, Welsh MP, Bishop RC (1988).
Validation of Empirical Measures of Welfare Change: Comment.
Land Economics, 64(1), 94--98.