Very helpful Dr Litt

its very helpful lecture Dr, thank you so much. if any lecture regarding with valuation of ecosystem service in response to different land use classes please provide me.

Is it possible to get correct signs on the variables and yet being statistically insignificant

@LittEconomics

3 жыл бұрын

This is definitely possible in any sort of econometric analysis.

What are some econometric problems with TCM?

@LittEconomics

3 жыл бұрын

Perhaps one of the biggest could be self selection bias, but this would most likely result in the estimates of the value to be lower than the true value, because a TCM model is only capturing the value for those who are able to visit the place. There may be people who value the place but are, for whatever reason, unable to travel to the location - the econometric model won't capture any of that or any other associated non-use value.