summary.dbchoice {DCchoice}

Summarizing dbchoice estimation

Description

Summary method for objects of class "dbchoice".

Usage

## S3 method for class 'dbchoice'
summary(object, ...)

## 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.

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.

Value

In addition to those available in the object of the "dbchoice" class, the following list components are added.

medianWTP

the estimated median WTP.

meanWTP

the estimated mean WTP.

trunc.meanWTP

the estimated mean WTP truncated at the maximum bid.

adj.trunc.meanWTP

the truncated mean WTP with the adjustment of Boyle et~al.(1988).

LR.test

a 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.

coef

a table of estimates including their s.e., z-value, and p-value.

AIC

information criterion (AIC and BIC).

References

Boyle KJ, Welsh MP, Bishop RC (1988). “Validation of Empirical Measures of Welfare Change: Comment.” Land Economics, 64(1), 94–98.

See Also

dbchoice