Combining Revealed and Stated Preference Data to Estimate Preferences for Residential Amenities: A GMM Approach
提出用广义矩方法结合选择实验的陈述偏好和住房交易的显示偏好，估计居住环境改善的支付意愿，并以纽约布法罗污染场地修复为例验证。
We show how stated preference information obtained from a choice experiment, and revealed preference information based on housing market transactions, can be combined via generalized method of moments (GMM) estimation. Specifically, we use a moment condition matching the predicted marginal willingness to pay (WTP) from a first-stage hedonic model to the marginal WTP formula implied by the choice experiment utility function. This is coupled with other moments from the choice experiment to produce GMM-based estimates of parameters that reflect the strengths of each data source. Our application values remediation of a contaminated site in Buffalo, New York, and we find evidence in support of estimates arising from our approach. <i></i>