Valuing Access to our Public Lands: A Unique Public Good Pricing Experiment



Table 4. DBDC WTP Estimates for the NRP

Explanatory Variables1

RDD Sample

NPF Sample

Coefficient P-Value

Coefficient P

-Value

All Revenue

0.52***

0.00

0.12***

"0.00

Low Visits

-0.40***

0.01

-0.11***

0.00

Young

0.12

0.27

-0.09*

0.06

Old

-0.01

0.47

-0.04**

0.04

Male

-0.09

0.24

-0.08**

0.02

BS degree

0.17

0.15

0.05

0.14

Professional degree

0.08

0.33

0.09**

0.04

Low Income

-0.10

0.27

-0.19***

0.00

White

0.06

0.43

-0.02

0.39

Hispanic

0.77**

0.02

0.07

0.31

Asian

0.62

0.12

-0.16

0.12

African American

-0.66*

0.09

0.32

0.14

NE

-0.24

0.22

0.02

0.38

ENC

-0.23

0.17

-0.03

0.34

WNC

-0.40**

0.04

-0.04

0.27

GP

-0.18

0.26

-0.12*

0.09

SE

-0.07

0.38

-0.02

0.34

WSC

-0.40*

0.10

-0.06

0.31

SW

0.02

0.47

0.04

0.30

______RM_____

________0.21__________

0.19

0.05_________

0.21

Heteroscedasticity (Hd) Results

Constant

-0.22

0.22

-0.57***

0.00

Initial Bid

0.003

0.19

-0.01***

0.00

Hd Likelihood Ratio

0.76

0.38

14.34***

0.00

Summary Statistics

Sample Size                   462

Likelihood Ratio Statistic            45.97***

Pseudo-R2                   0.056

Mean WTP               $42.28

______Median WTP_______________$34.93_________

1461

65.07***

0.024

$94.52

_________$95.63

Notes. (***), (**), and (*) refer to statistical significance at the 1, 5 and 10 percent levels. The
estimation was carried out using the Constrained Maximum Likelihood (CML 2.0) package in
Gauss version 3.5. The nonlinear optimization routine was Newton-Raphson with a convergence
criterion of 1
×10-5 for the gradient of the coefficients. The estimates for “don’t know” and
“missing” dummy variables are not shown. 1Although not explicitly listed as an explanatory
variable, we control for BID in creating the probabilities that enter the likelihood function. See
Cameron and James [1987] for further details. Protest households are defined as those who refused
the NRP for free and are excluded from the analysis.

29



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