The generalized multinomial logit (GMNL) model nests the random parameters logit (RPL) model and the scale heterogeneity logit (SMNL) model. The RPL model captures the preference heterogeneity among individuals by allowing the coefficients to be random with any distribution. It has been often...

Monte Carlo evidence has shown that simple, misspecified discrete choice models for referendum contingent valuation data can lead to good estimates of mean willingness to pay (WTP). Empirical studies have found that estimates of mean WTP derived from simple parametric models often differ little...