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Logit Mixed Logit Under Asymmetry and Multimodality of WTP : A Monte Carlo Evaluation

Scarpa, Riccardo; Franceschinis, Cristiano; Thiene, Mara - In: American Journal of Agricultural Economics 103 (2020) 2, pp. 643-662

Persistent link: https://www.econbiz.de/10012408427

Utility in Willingness to Pay Space: A Tool to Address Confounding Random Scale Effects in Destination Choice to the Alps

Scarpa, Riccardo; Thiene, Mara; Train, Kenneth - In: American Journal of Agricultural Economics 90 (2008) 4, pp. 994-1010

We compare two approaches for estimating the distribution of consumers' willingness to pay ("WTP") in discrete choice models. The usual procedure is to estimate the distribution of the utility coefficients and then derive the distribution of "WTP", which is the ratio of coefficients. The...

Persistent link: https://www.econbiz.de/10005202240

Utility in Willingness to Pay Space: A Tool to Address Confounding Random Scale Effects in Destination Choice to the Alps

Scarpa, Riccardo; Thiene, Mara; Train, Kenneth - In: American Journal of Agricultural Economics 90 (2008) 4, pp. 994-1010

We compare two approaches for estimating the distribution of consumers' willingness to pay (WTP) in discrete choice models. The usual procedure is to estimate the distribution of the utility coefficients and then derive the distribution of WTP, which is the ratio of coefficients. The alternative...

Persistent link: https://www.econbiz.de/10009394110