Table 5.

Estimates for the double bounded dichotomous choice model.

Variable	Estimate	Standard error
Constant (α)	4.0258	0.4355*
Bid (ρ)	0.0822	0.0786*
Mean WTP (α/ρ)	48.97
Number of observations	150
Log-likelihood	102.611
Chi squared	15.125
Pseudo R2	0.666

*Statistically significant at 1%.