This paper empirically compares the use of straightforward verses more complex methods to estimate public goods game data. Five different estimation methods were compared holding the dependent and explanatory variables constant. The models were evaluated using a large out-of-sample cross-country public goods game data set. The ordered probit and tobit random-effects models yielded lower p values compared to more straightforward models: ordinary least squares, fixed and random effects. However, the more complex models also had a greater predictive bias. The straightforward models performed better than expected. Despite their limitations, they produced unbiased predictions for both the in-sample and out-of-sample data.

The aim of this paper is to analyse the intention to purchase animal welfare-friendly meat products and determine the factors explaining this intention. Additionally, a model of the intention to purchase animal welfare-friendly meat products has been developed based on the Theory of Planned Behaviour (TPB). This model has been specified as a two-equation multivariate ordered probit model and estimated using data from a survey conducted in Spain in 2008. Results indicate that one of the most important factors associated with the intention to purchase animal welfare-friendly meat products was consumer self-identification with ethical issues. Second, findings suggested that, as the Theory of Planned Behaviour states, other factors related to the intention to purchase these products were attitudes, subjective norms and perceived behavioural control.

This analysis introduces a conceptual framework for economic enfranchisement and studies its effect on an individual’s likelihood to set strong financial goals. A conceptual and empirical model is developed to investigate how economic enfranchisement influences an individual’s likelihood to set a goal and the strength of that goal. The empirical analysis employs an ordered probit to account for the two-stage goal-setting and goal strength decision process. Results show that economic enfranchisement has a significant effect on an individual’s likelihood to set financial goals where more enfranchised individuals are more likely to set strong goals than their disenfranchised counterparts.

In this paper we estimate how a variety of subjective measures of quality taken from the published opinions of several experts on Italian wines (Barolo and Barbaresco) are determined by the weather conditions during the relevant season, in order to assess their reliability. Since these measures of quality are only ordinal, we estimate their determinants using an ordered probit model. The method provides measures of the determinants of vintage quality ratings and suggestions on the reliability of each expert. (JEL Classifications: D12, Q11, Q13)

We investigate geospatial and socio-demographic attributes that explain differences in community-level policies affecting unconventional gas development (UGD) in New York. We examine local policy decisions (i.e., municipal bans, moratoria, and pre-emptive resolutions supporting development) through ordered probit models and middle-inflated and zero-inflated ordered probits to account for communities without UGD policies and estimate a spatial ordered probit to address spatial correlations between communities' decisions. Our findings suggest that New York communities near Pennsylvania UGD are more likely to support UGD. Communities that are predominantly Democrat or have more citizens who have bachelor's degrees are more likely to adopt policies opposing UGD.

Of twenty-three agricultural economics conjoint analyses conducted between 1990 and 2001, seventeen used interval-rating scales, with estimation procedures varying widely. This study tests cardinality assumptions in conjoint analysis when interval-rating scales are used, and tests whether the ordered probit or two-limit tobit model is the most valid. Results indicate that cardinality assumptions are invalid, but estimates of the underlying utility scale for the two models do not differ. Thus, while the ordered probit model is theoretically more appealing, the two-limit tobit model may be more useful in practice, especially in cases with limited degrees of freedom, such as with individual-level conjoint models.

Conjoint analysis is used to evaluate consumer preferences for three consumer-ready products derived from crawfish. Utility functions are estimated using two-limit tobit and ordered probit models. The results show women prefer a baked nugget or popper type product, whereas 35- to 44-year-old men prefer a microwavable nugget or patty type product. The results also show little difference between part-worth estimates or predicted rankings for the tobit and ordered probit models, implying the results are not sensitive to assumptions regarding the ordinal and cardinal nature of respondent preferences.

Virginia's growing agritourism industry provides additional income to farms and mitigates risk. This study empirically analyzes the effect of demographic, operational, and financial factors on the profitability of agritourism operations using a primary data set collected from a survey of more than 500 agritourism operations. Results show that greater profitability is associated with operators who are motivated by additional income and have more education, larger operations with a greater percentage of income from agritourism, and visitors who spent more on average. Characteristics having a negative effect on profitability are wineries, locations farther from interstates, and difficulty accessing capital.

Student evaluation of teaching (SET) is employed as an aid in improvinginstruction and determining faculty teaching effectiveness. However,economic theory indicates the existence of externalities in SET scores thatdirectly influence their interpretation. As a test of this existence, amultinomial-choice, ordered data estimation procedure is employed toidentify course externalities influencing SET. These externalities includestudent class standing, required courses, class size, days a class meets,class meeting time, classroom location, and classroom design. Resultsindicate that externalities have a significant impact on teachingevaluations. Thus, failure to internalize these externalities will lead tobiases in SET and questionable use of SET as an aid in instructionimprovement and determining faculty effectiveness.

Considerable efforts have been made to provide cow-calf producers withinformation to help them make informed decisions about adding value tocalves. Despite demonstrated market incentives to retain calves, manyproducers still sell right after weaning. We postulate this observedbehavior is related to producer risk aversion. Our study concludes riskaversion is an important factor affecting calf retention as the mostrisk-averse producers have more than a 60% probability of selling calves atweaning and the most risk tolerant have less than a 20% probability ofselling at weaning.

Personal interviews were conducted with beef cattle producers in Louisiana to determine their preferences and purchase decisions for livestock price insurance. Conjoint analysis was utilized to determine the importance of selected attributes of insurance policies for these producers. The characteristics of producers who prefer given attributes were also identified. Producers rated products given four economic situations to evaluate. A two-limit tobit model was used to estimate the part worth utility values for each attribute. Univariate probit models were estimated to evaluate the influence of producer characteristics on purchase decisions.