Table 3

Interval Regression Results for Willingness to Pay

Linear (N=447)Ln (N=443)
CoefficientSECoefficientSE
Estimated risk6.665***1.7140.014***0.003
Neighbors move %4.542***1.8120.005*0.003
Years in town4.4393.1380.0070.005
Family in town30.8090.260.1370.144
Neighbor talk daily46.8299.700.0500.160
Environmental concern104.493.610.343**0.149
Home raised133.2111.80.303*0.179
Ocean−51.01142.4−0.2340.228
Has insurance−116.6100.2−0.2020.160
Premium/yr ($)8.895**3.9850.0020.006
Ever claim−261.0**121.8−0.2290.193
Ever claim >$25k618.0***169.80.600**0.269
Home value $100-$250k59.38114.70.346*0.184
Home value $250k+19.57132.70.2820.214
Income $70k-$149k235.6**97.100.621***0.154
Income $150k+676.2***182.71.13***0.289
Inhabitants40.3634.360.099*0.054
Age 35-54−110.0108.5−0.412**0.173
Age 55+−39.14118.0−0.0840.188
College degree218.2**96.590.354**0.152
Advanced degree155.7119.00.348*0.191
White111.4134.50.1480.213
Black−113.8179.8−0.0810.288
Regional fixed effectsYesYes
In(σ)6.718***0.0360.262***0.038
Σ827.529.811.3000.049
Log-likelihood−1,426.0028−961.40562
  • Note: σ is calculated from the estimated ln(σ).

  • ***, **, * Significance at the 1%, 5%, and 10% levels, respectively.