Plot Marginal or Discrete Effects of Willingness to Pay

Plot marginal or discrete effects of willingness to pay, potentially against another variable.

Usage

# S3 method for class 'fracregmlogit'
plot(
  x,
  wtp.vec = NULL,
  varlist = NULL,
  against = NULL,
  mfrow = NULL,
  t = 500,
  effect = c("discrete", "marginal"),
  type = NULL,
  plot.show = TRUE,
  ...
)

Arguments

x

A "fracregmlogit" object.

wtp.vec

A numeric vector for willingness to pay.

varlist

A string vector which provides the names of variables to plot the effect for. If missing, all variables in the object will be plotted.

against

A vector with the same length as the number of observations in the model, or the name of a variable. Serves as the x-axis in the plots.

mfrow

A numeric vector with two elements. Specifies the number of rows and columns in a panel. Similar to par(mfrow=c()). Default to NULL, and the program will choose a square panel.

t

Number of points to be used for smoothing.

effect

The type of effect ("marginal" or "discrete").

type

Plot type.

plot.show

If TRUE, the plot will be created. Otherwise, the function returns raw data that can be used to create user-specified (custom) plots.

...

Additional arguments.

Value

Panel plots of effects vs. chosen variables.

Details

This function provides a visualisation tool for potentially heterogeneous marginal and discrete effects of willingness to pay. The function allows the user to plot marginal effects to detect any patterns in the effects, in itself and against other variables. The plot also allows visualisation of sub-groups in data, which can be very useful to visualise categorical and dummy variables.

The function takes a fracregmlogit object, and internally calls wtp and fracregmlogit.pe to compute the willingness to pay at different data points.

Additional parameters include varlist, a vector of string variable names to be plotted.

against allows a different variable to be chosen as the x-axis. against can supply the column name of a variable in the original dataset to plot against.

See also

wtp, fracregmlogit.pe

Examples

data("fracreg_spending")
X = fracreg_spending[,2:5]
y = fracreg_spending[,6:11]
results1 = fracregmlogit(y, X)

# Define a willingness to pay vector
wtp.vec = c(1, 1, 1, 1, 1, 1)

# Plot WTP for 'popdens'
plot(results1, wtp.vec=wtp.vec, varlist="popdens")

#> [[1]]
#>   [1]   1   2   3   4   5   6   7   8   9  10  11  12  13  14  15  16  17  18
#>  [19]  19  20  21  22  23  24  25  26  27  28  29  30  31  32  33  34  35  36
#>  [37]  37  38  39  40  41  42  43  44  45  46  47  48  49  50  51  52  53  54
#>  [55]  55  56  57  58  59  60  61  62  63  64  65  66  67  68  69  70  71  72
#>  [73]  73  74  75  76  77  78  79  80  81  82  83  84  85  86  87  88  89  90
#>  [91]  91  92  93  94  95  96  97  98  99 100 101 102 103 104 105 106 107 108
#> [109] 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126
#> [127] 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144
#> [145] 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162
#> [163] 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180
#> [181] 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198
#> [199] 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216
#> [217] 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234
#> [235] 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250 251 252
#> [253] 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270
#> [271] 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288
#> [289] 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303 304 305 306
#> [307] 307 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 324
#> [325] 325 326 327 328 329 330 331 332 333 334 335 336 337 338 339 340 341 342
#> [343] 343 344 345 346 347 348 349 350 351 352 353 354 355 356 357 358 359 360
#> [361] 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378
#> [379] 379 380 381 382 383 384 385 386 387 388 389 390 391 392
#> 
#> [[2]]
#>              popdens
#>   [1,]  2.775558e-17
#>   [2,] -1.665335e-16
#>   [3,]  1.387779e-16
#>   [4,]  2.775558e-17
#>   [5,]  8.326673e-17
#>   [6,]  1.387779e-16
#>   [7,]  2.498002e-16
#>   [8,]  1.110223e-16
#>   [9,]  8.326673e-17
#>  [10,]  2.775558e-17
#>  [11,]  0.000000e+00
#>  [12,] -2.775558e-17
#>  [13,] -5.551115e-17
#>  [14,] -5.551115e-17
#>  [15,]  1.665335e-16
#>  [16,]  5.551115e-17
#>  [17,]  5.551115e-17
#>  [18,] -1.942890e-16
#>  [19,] -5.551115e-17
#>  [20,] -1.942890e-16
#>  [21,]  0.000000e+00
#>  [22,]  1.665335e-16
#>  [23,] -1.110223e-16
#>  [24,] -2.775558e-17
#>  [25,] -2.775558e-17
#>  [26,] -2.220446e-16
#>  [27,]  2.498002e-16
#>  [28,]  2.775558e-17
#>  [29,] -5.551115e-17
#>  [30,]  2.775558e-17
#>  [31,]  5.551115e-17
#>  [32,]  2.498002e-16
#>  [33,]  5.551115e-17
#>  [34,] -5.551115e-17
#>  [35,]  5.551115e-17
#>  [36,]  2.775558e-17
#>  [37,]  8.326673e-17
#>  [38,]  2.220446e-16
#>  [39,]  0.000000e+00
#>  [40,]  2.775558e-17
#>  [41,] -1.110223e-16
#>  [42,]  1.665335e-16
#>  [43,]  2.775558e-17
#>  [44,]  2.775558e-17
#>  [45,]  5.551115e-17
#>  [46,]  5.551115e-17
#>  [47,]  0.000000e+00
#>  [48,] -2.775558e-17
#>  [49,]  2.775558e-17
#>  [50,]  4.163336e-17
#>  [51,]  2.775558e-17
#>  [52,] -5.551115e-17
#>  [53,] -8.326673e-17
#>  [54,]  2.775558e-17
#>  [55,]  5.551115e-17
#>  [56,] -1.387779e-16
#>  [57,]  5.551115e-17
#>  [58,]  5.551115e-17
#>  [59,] -1.942890e-16
#>  [60,]  5.551115e-17
#>  [61,]  2.220446e-16
#>  [62,] -2.775558e-17
#>  [63,]  1.110223e-16
#>  [64,]  5.551115e-17
#>  [65,] -1.942890e-16
#>  [66,]  1.665335e-16
#>  [67,] -2.775558e-17
#>  [68,] -1.110223e-16
#>  [69,] -5.551115e-17
#>  [70,]  2.775558e-17
#>  [71,]  2.220446e-16
#>  [72,]  2.775558e-17
#>  [73,]  5.551115e-17
#>  [74,] -1.942890e-16
#>  [75,]  1.942890e-16
#>  [76,]  0.000000e+00
#>  [77,]  1.110223e-16
#>  [78,] -2.775558e-16
#>  [79,]  5.551115e-17
#>  [80,] -5.551115e-17
#>  [81,]  2.220446e-16
#>  [82,] -1.110223e-16
#>  [83,]  5.551115e-17
#>  [84,]  2.775558e-17
#>  [85,] -2.775558e-17
#>  [86,]  1.110223e-16
#>  [87,] -5.551115e-17
#>  [88,]  1.110223e-16
#>  [89,]  1.110223e-16
#>  [90,] -2.775558e-17
#>  [91,] -2.220446e-16
#>  [92,] -1.665335e-16
#>  [93,]  0.000000e+00
#>  [94,] -8.326673e-17
#>  [95,] -5.551115e-17
#>  [96,]  1.942890e-16
#>  [97,]  1.387779e-16
#>  [98,]  2.775558e-17
#>  [99,]  8.326673e-17
#> [100,] -8.326673e-17
#> [101,] -1.387779e-16
#> [102,]  5.551115e-17
#> [103,]  1.110223e-16
#> [104,] -1.110223e-16
#> [105,]  1.387779e-16
#> [106,] -1.665335e-16
#> [107,]  1.665335e-16
#> [108,] -2.775558e-17
#> [109,]  0.000000e+00
#> [110,]  5.551115e-17
#> [111,]  1.110223e-16
#> [112,] -2.498002e-16
#> [113,]  2.775558e-17
#> [114,]  0.000000e+00
#> [115,]  0.000000e+00
#> [116,]  0.000000e+00
#> [117,] -2.775558e-17
#> [118,]  2.775558e-17
#> [119,]  2.775558e-17
#> [120,]  0.000000e+00
#> [121,]  8.326673e-17
#> [122,] -2.775558e-17
#> [123,]  0.000000e+00
#> [124,]  2.775558e-17
#> [125,] -1.110223e-16
#> [126,]  2.775558e-17
#> [127,]  1.110223e-16
#> [128,] -2.775558e-17
#> [129,]  5.551115e-17
#> [130,]  2.775558e-17
#> [131,]  8.326673e-17
#> [132,]  5.551115e-17
#> [133,] -8.326673e-17
#> [134,]  2.775558e-17
#> [135,]  2.775558e-17
#> [136,]  5.551115e-17
#> [137,]  5.551115e-17
#> [138,]  8.326673e-17
#> [139,] -5.551115e-17
#> [140,]  1.110223e-16
#> [141,]  0.000000e+00
#> [142,]  2.775558e-17
#> [143,]  3.330669e-16
#> [144,]  5.551115e-17
#> [145,]  0.000000e+00
#> [146,] -2.775558e-17
#> [147,]  5.551115e-17
#> [148,]  0.000000e+00
#> [149,] -1.665335e-16
#> [150,]  1.110223e-16
#> [151,] -1.110223e-16
#> [152,]  1.110223e-16
#> [153,]  5.551115e-17
#> [154,]  2.775558e-17
#> [155,]  2.775558e-17
#> [156,] -1.110223e-16
#> [157,]  1.110223e-16
#> [158,]  1.110223e-16
#> [159,]  5.551115e-17
#> [160,]  0.000000e+00
#> [161,] -1.110223e-16
#> [162,]  5.551115e-17
#> [163,]  1.665335e-16
#> [164,] -1.387779e-16
#> [165,]  2.775558e-17
#> [166,]  5.551115e-17
#> [167,]  2.775558e-17
#> [168,] -5.551115e-17
#> [169,] -2.775558e-17
#> [170,]  2.775558e-17
#> [171,]  8.326673e-17
#> [172,]  2.498002e-16
#> [173,]  2.775558e-17
#> [174,]  2.498002e-16
#> [175,]  1.387779e-16
#> [176,]  1.387779e-16
#> [177,] -2.775558e-17
#> [178,] -2.775558e-17
#> [179,]  2.775558e-17
#> [180,] -1.110223e-16
#> [181,] -2.775558e-17
#> [182,]  1.526557e-16
#> [183,]  2.775558e-17
#> [184,]  1.110223e-16
#> [185,] -8.326673e-17
#> [186,]  5.551115e-17
#> [187,] -5.551115e-17
#> [188,] -1.110223e-16
#> [189,]  1.665335e-16
#> [190,] -2.775558e-17
#> [191,]  1.110223e-16
#> [192,] -5.551115e-17
#> [193,]  1.110223e-16
#> [194,] -5.551115e-17
#> [195,]  8.326673e-17
#> [196,]  1.387779e-16
#> [197,]  2.498002e-16
#> [198,]  5.551115e-17
#> [199,]  1.110223e-16
#> [200,]  1.387779e-16
#> [201,]  1.665335e-16
#> [202,]  1.665335e-16
#> [203,]  8.326673e-17
#> [204,]  0.000000e+00
#> [205,]  0.000000e+00
#> [206,]  5.551115e-17
#> [207,]  5.551115e-17
#> [208,] -1.110223e-16
#> [209,] -8.326673e-17
#> [210,] -5.551115e-17
#> [211,]  1.665335e-16
#> [212,]  1.110223e-16
#> [213,]  5.551115e-17
#> [214,]  2.498002e-16
#> [215,] -2.775558e-17
#> [216,]  2.498002e-16
#> [217,] -5.551115e-17
#> [218,]  0.000000e+00
#> [219,] -2.775558e-17
#> [220,] -2.775558e-17
#> [221,]  5.551115e-17
#> [222,] -2.775558e-17
#> [223,]  2.775558e-16
#> [224,]  1.110223e-16
#> [225,]  2.775558e-17
#> [226,] -2.775558e-17
#> [227,]  2.775558e-17
#> [228,] -2.775558e-17
#> [229,] -1.942890e-16
#> [230,]  2.775558e-17
#> [231,]  5.551115e-17
#> [232,]  5.551115e-17
#> [233,]  1.665335e-16
#> [234,]  1.665335e-16
#> [235,]  5.551115e-17
#> [236,]  5.551115e-17
#> [237,]  1.110223e-16
#> [238,] -2.775558e-17
#> [239,] -1.387779e-16
#> [240,]  1.110223e-16
#> [241,]  1.387779e-16
#> [242,] -8.326673e-17
#> [243,]  2.775558e-17
#> [244,]  1.110223e-16
#> [245,]  1.110223e-16
#> [246,]  0.000000e+00
#> [247,] -1.387779e-16
#> [248,]  2.220446e-16
#> [249,]  3.330669e-16
#> [250,] -5.551115e-17
#> [251,]  1.387779e-16
#> [252,]  1.110223e-16
#> [253,]  1.387779e-16
#> [254,]  5.551115e-17
#> [255,]  1.110223e-16
#> [256,]  2.775558e-17
#> [257,]  1.110223e-16
#> [258,]  2.775558e-16
#> [259,]  1.387779e-16
#> [260,] -1.110223e-16
#> [261,]  5.551115e-17
#> [262,]  2.498002e-16
#> [263,]  2.775558e-17
#> [264,]  2.775558e-17
#> [265,] -3.053113e-16
#> [266,] -5.551115e-17
#> [267,]  2.775558e-16
#> [268,]  1.387779e-16
#> [269,] -2.775558e-17
#> [270,]  5.551115e-17
#> [271,]  0.000000e+00
#> [272,]  2.775558e-17
#> [273,]  2.220446e-16
#> [274,]  2.775558e-17
#> [275,]  2.775558e-17
#> [276,]  1.110223e-16
#> [277,]  2.775558e-17
#> [278,]  1.110223e-16
#> [279,] -1.665335e-16
#> [280,]  0.000000e+00
#> [281,] -1.387779e-16
#> [282,] -5.551115e-17
#> [283,]  8.326673e-17
#> [284,]  5.551115e-17
#> [285,]  1.110223e-16
#> [286,]  3.330669e-16
#> [287,]  5.551115e-17
#> [288,]  5.551115e-17
#> [289,] -1.387779e-16
#> [290,]  5.551115e-17
#> [291,] -1.942890e-16
#> [292,] -2.775558e-17
#> [293,]  1.665335e-16
#> [294,] -5.551115e-17
#> [295,]  5.551115e-17
#> [296,]  0.000000e+00
#> [297,]  2.775558e-17
#> [298,]  2.775558e-17
#> [299,]  0.000000e+00
#> [300,] -2.775558e-17
#> [301,] -2.775558e-17
#> [302,]  0.000000e+00
#> [303,]  5.551115e-17
#> [304,] -5.551115e-17
#> [305,] -1.665335e-16
#> [306,]  8.326673e-17
#> [307,]  1.110223e-16
#> [308,]  2.775558e-17
#> [309,]  1.665335e-16
#> [310,]  5.551115e-17
#> [311,]  1.110223e-16
#> [312,] -1.110223e-16
#> [313,]  1.387779e-16
#> [314,] -2.775558e-17
#> [315,]  2.775558e-17
#> [316,] -1.665335e-16
#> [317,]  1.665335e-16
#> [318,] -5.551115e-17
#> [319,]  2.775558e-17
#> [320,]  0.000000e+00
#> [321,] -1.942890e-16
#> [322,]  0.000000e+00
#> [323,]  8.326673e-17
#> [324,]  1.110223e-16
#> [325,]  1.110223e-16
#> [326,]  1.110223e-16
#> [327,]  0.000000e+00
#> [328,] -8.326673e-17
#> [329,] -5.551115e-17
#> [330,]  1.942890e-16
#> [331,]  3.330669e-16
#> [332,] -1.942890e-16
#> [333,]  0.000000e+00
#> [334,]  0.000000e+00
#> [335,]  5.551115e-17
#> [336,]  1.387779e-16
#> [337,]  0.000000e+00
#> [338,]  8.326673e-17
#> [339,]  8.326673e-17
#> [340,] -1.110223e-16
#> [341,] -5.551115e-17
#> [342,] -2.775558e-17
#> [343,] -8.326673e-17
#> [344,] -1.110223e-16
#> [345,]  2.775558e-17
#> [346,] -5.551115e-17
#> [347,]  8.326673e-17
#> [348,]  2.775558e-17
#> [349,] -1.942890e-16
#> [350,] -5.551115e-17
#> [351,] -1.387779e-17
#> [352,]  1.387779e-16
#> [353,]  2.775558e-17
#> [354,]  8.326673e-17
#> [355,] -2.775558e-17
#> [356,] -5.551115e-17
#> [357,]  5.551115e-17
#> [358,]  1.387779e-16
#> [359,]  8.326673e-17
#> [360,] -1.110223e-16
#> [361,]  5.551115e-17
#> [362,] -1.387779e-16
#> [363,]  5.551115e-17
#> [364,]  1.387779e-16
#> [365,]  2.498002e-16
#> [366,] -2.775558e-17
#> [367,]  5.551115e-17
#> [368,]  5.551115e-17
#> [369,] -2.775558e-17
#> [370,]  0.000000e+00
#> [371,]  0.000000e+00
#> [372,]  0.000000e+00
#> [373,]  1.110223e-16
#> [374,] -8.326673e-17
#> [375,] -2.775558e-17
#> [376,]  2.775558e-17
#> [377,]  2.498002e-16
#> [378,]  5.551115e-17
#> [379,] -2.220446e-16
#> [380,] -2.775558e-17
#> [381,] -5.551115e-17
#> [382,]  0.000000e+00
#> [383,]  0.000000e+00
#> [384,] -2.775558e-17
#> [385,] -5.551115e-17
#> [386,]  5.551115e-17
#> [387,] -1.942890e-16
#> [388,]  2.775558e-17
#> [389,]  1.665335e-16
#> [390,] -1.942890e-16
#> [391,]  5.551115e-17
#> [392,] -3.053113e-16
#>