Andre, Diego de Maria; Carvalho Júnior, José Raimundo … - In: Economia : revista da ANPEC 20 (2019) 1, pp. 44-72
We estimate willingness to pay (WTP) for a first-order stochastic reduction on the risk of robbery at a large city in Brazil. We develop a structural choice model that nests a process of contingent valuation among non-degenerate lotteries and estimate it by both maximum likelihood and...
