A new baseline model for estimating willingness to pay from discrete choice models

2019 ◽  
Vol 95 ◽  
pp. 57-61 ◽  
Author(s):  
Richard T. Carson ◽  
Mikołaj Czajkowski
Keyword(s):  
Willingness To Pay ◽  
Discrete Choice ◽  
Choice Models ◽  
Discrete Choice Models ◽  
Baseline Model

scholarly journals Measuring Willingness-to-Pay in Discrete Choice Models with Semi-Parametric Techniques

2005 ◽  
pp. 83-100
Author(s):  
Pablo Marcelo García
Keyword(s):  
Willingness To Pay ◽  
Discrete Choice ◽  
Buenos Aires ◽  
Choice Models ◽  
Discrete Choice Models ◽  
Logit Models ◽  
Travel Times ◽  
Empirical Application ◽  
Simple Index ◽  
The City

It is usual to estimate willingness-to-pay in discrete choice models through Logit models -or their expanded versions. Nevertheless, these models have very restrictive distributional assumptions. This paper is intended to examine the above-mentioned issue and to propose an alternative estimation using non-parametric techniques (through Simple Index Models). Furthermore, this paper introduces an empirical application of willingness- to-pay for improved subway travel times in the City of Buenos Aires.

Theoretical, methodological and practical issues of choice models

2018 ◽  
Vol 1 (1) ◽  
pp. 21-37
Author(s):  
Bharat P. Bhatta
Keyword(s):  
Discrete Choice ◽  
Model Building ◽  
Estimation Method ◽  
Choice Models ◽  
Discrete Choice Models ◽  
Decision Makers ◽  
Model Formulation ◽  
Random Utility Maximization ◽  
The Relationship ◽  
Method Model

This paper analyzes and synthesizes the fundamentals of discrete choice models. This paper alsodiscusses the basic concept and theory underlying the econometrics of discrete choice, specific choicemodels, estimation method, model building and tests, and applications of discrete choice models. Thiswork highlights the relationship between economic theory and discrete choice models: how economictheory contributes to choice modeling and vice versa. Keywords: Discrete choice models; Random utility maximization; Decision makers; Utility function;Model formulation

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