Testing for Misspecification in the Referendum Contingent Valuation Approach
针对公投条件估值数据中常用的二元选择模型，提出条件矩检验来检测遗漏变量、异方差和分布不对称问题，并用两个研究实例说明误设会影响福利估计。
Abstract Binary choice models are frequently used in the analysis of referendum contingent valuation data. Because omitted regressors, heteroskedasticity, and distribution asymmetry in these models result in inconsistent parameter estimates, it is important that misspecification tests be undertaken. In this article, conditional moment tests for these problems are presented and applied to data from two referendum contingent valuation studies. Results show that some models have misspecification problems and that these problems affect the estimation of welfare measures.