In order to compare single species and multispecies models we first estimate conditional and nested logit models for the shallow water grouper aggregate species (Table A3-1). In the single species models, the effect of the grouper catch on choice is about 25% lower in the nested logit model relative to the conditional logit. Willingness-to-pay values are significantly higher in the single species models.
Table A3-1. Single Species Random Utility Models |
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|
Conditional Logit |
Nested Logit |
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|
Coeff. |
t-stat |
Coeff. |
t-stat |
Travcost |
-0.04 |
-24.18 |
-0.11 |
-22.43 |
Grouper |
11.10 |
20.07 |
5.78 |
6.00 |
Ln(Sites) |
0.87 |
14.86 |
0.51 |
7.53 |
Inclusive value |
|
|
0.12 |
12.37 |
Choices |
30 |
30 |
||
Cases |
725 |
725 |
||
Log-Likelihood |
-1354 |
-1045 |
||
WTP |
312.68 |
53.25 |