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27

Table 3. Estimation Results

_______Variable_______

Parameter

Estimate

Asymptotic
Std. Error

Pt. Reyes Price

#"!

16.3725

5.464

Pt. Reyes Sightings

#"D

-0.0637

-9.664

Pt. Reyes Budget Slope

""

6.8902

2.214

Half Moon Price

##!

3.8157

1.227

Half Moon Sightings

##D

-0.0026

-0.297

Half Moon Budget Slope

"2

1.7373

1.208

Monterey Price

#$!

-17.4486

-5.936

Monterey Sightings

#$D

-0.0350

-4.968

Monterey Budget Slope

"3

-6.3731

-2.125

Value of Time Constant

-È38

-0.7778

-1.518

Pseudo R#           0.421

Mean log-likelihood -6.05

Number of cases 432



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