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A major concern with the derivation of willingness to pay (WTP) distributions from mixed logit models is the incidence of values over a range that are deemed 'behaviourally questionable', with respect to the sign and magnitude. Recent research in redefining the 'space' within which a choice...
Persistent link: https://www.econbiz.de/10010907275
A growing number of empirical studies involve the assessment of influences on a choice amongst ordered discrete alternatives. Ordered logit and probit models are well known, including extensions to accommodate random parameters and heteroscedasticity in unobserved variance. This paper extends...
Persistent link: https://www.econbiz.de/10010562317
This paper investigates factors likely to increase a person's risk of social exclusion, drawing on survey data specifically framed for this purpose. We use a generalised ordered logit model that accounts for observed and unobserved heterogeneity and derive the marginal effects for each...
Persistent link: https://www.econbiz.de/10010562323