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Consequently, the final model specifications are shown as below in Eqs.

Apart from that, model specifications are the same as in the binary case.

Otherwise, as model [1] and [2] reflect, the model specifications are identical.

Different model specifications are tested, and the analysis highlights important policy interaction effects.

However, if model specifications are selected based on significance of the main covariates, effect sizes will vary directly with standard errors Se.

Several econometric model specifications are considered as well as alternative approaches to handle zero willingness to pay values and protest responses.

Various other model specifications were attempted.

To address the objective, three model specifications were developed representing urban development in the Barnegat Bay watershed (New Jersey, USA).

As suggested, the goodness of fit of competing model specifications was evaluated by comparing the mean absolute error, mean squared error, and R2 scores [8].

In the first stage, 6 different model specifications were used to analyse the two respondent data sets (Blue and Green) as follows: Model 1: with the dependent variable as 100 – raw VAS value with no constant term in the model.

Several model specifications were explored.