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...

Destination choice models with individual-specific taste variation have become the presumptive analytical approach in applied nonmarket valuation. Under the usual specification, tastes are represented by coefficients of site attributes that enter utility, and the distribution of these...

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...