summary.sbchoice {DCchoice} R Documentation

## Summarizing sbchoice estimation

### Description

Summary method for objects of class sbchoice.

### Usage

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

## S3 method for class 'summary.sbchoice'
print(x, digits = max(3, getOption("digits") - 1), ...)



### Arguments

 object an object of class "sbchoice". x an object of class "summary.sbchoice". digits a number of digits to display. ... optional arguments. Currently not in use.

### Details

The function summary.sbchoice() computes and returns a list of summary statistics of the fitted model in object of the "sbchoice" 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)$coefficients. See the Value section for a list of components. Since the model for the single-bounded dichotomous choice CV data is estimated by glm, an object of class "summary.sbchoice" is constructed based on a "summary.glm" class object. The summary of the "summary.glm" class object is available by summary(object)$glm.summary. Other components computed by summary.glm are also accessible. See summary.glm for details.

### Value

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

 glm.summary a summary of the glm estimation. It is an object of class "summary.glm". glm.null.summary a summary of the glm estimation of the null model (i.e., only with the intercept). It is an object of class "summary.glm". loglik the value of the log-likelihood of the model. loglik.null the value of the log-likelihood of the null model. psdR2 McFadden's pseudo-R2 measure. adjpsdR2 McFadden's pseudo-R2 measure adjusted for the degrees of freedom. 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. 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.

sbchoice, glm, summary.glm