Browsing by Author "Train, Kenneth"
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Utility in willingness to pay space: a tool to address confounding random scale effects in destination choice to the Alps
(Oxford University Press, 2008)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 ... -
Utility in WTP space: a tool to address confounding random scale effects in destination choice to the Alps
(2006-12)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 ...
