I am trying to work out the mean WTP value from my probit model,
I am trying to get a non negative mean value: using the below method:
Mean WTP=ln(1+exp B0 )/B1
where B0 is the intercept and B1 BID COEFFICENT
Output table:
answer1_cntl | Coef. Std. Err. z P>|z| [95% Conf. Interval]
--------------+----------------------------------------------------------------
bid1_cntl_wtp | -,1609968 ,0435804 -3,69 0,000 -,2464128 -,0755807
_cons | -,1494844 ,1110473 -1,35 0,178 -,3671331 ,0681642
I think it should look like WTP = ln(1+exp -0.149 / -0.169)
However when I attempt to recreate this in stata,
gen lnt = ln(1+exp[_b[_cons]] / _b[bid1_cntl_wtp])
or
nlcom (WTP_cntl:- ln(1+exp_b[_cons]/_b[bid1_123_wtp]), noheader
I am getting an error message.
I am trying to get a non negative mean value: using the below method:
Mean WTP=ln(1+exp B0 )/B1
where B0 is the intercept and B1 BID COEFFICENT
Output table:
answer1_cntl | Coef. Std. Err. z P>|z| [95% Conf. Interval]
--------------+----------------------------------------------------------------
bid1_cntl_wtp | -,1609968 ,0435804 -3,69 0,000 -,2464128 -,0755807
_cons | -,1494844 ,1110473 -1,35 0,178 -,3671331 ,0681642
I think it should look like WTP = ln(1+exp -0.149 / -0.169)
However when I attempt to recreate this in stata,
gen lnt = ln(1+exp[_b[_cons]] / _b[bid1_cntl_wtp])
or
nlcom (WTP_cntl:- ln(1+exp_b[_cons]/_b[bid1_123_wtp]), noheader
I am getting an error message.
Comment