Nonparametric Discrete Choice Methods forMeasuring Economic Values

The purpose of this research is to use measures of willingness to pay derived from random utility models as the basis for evaluating the properties of parametric and nonparametric estimators with binary choice data. Monte Carlo simulation results indicate that simple parametric methods outperform the nonparametric method for a range of underlying preference structures.

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Year of publication:	1995
Authors:	Huang, Ju-Chin ; Nychka, Douglas W. ; Smith, V. Kerry
Institutions:	Duke University, Department of Economics

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Series:	Working Papers.
Type of publication:	Book / Working Paper
Notes:	Number 95-29
Classification:	C25 - Discrete Regression and Qualitative Choice Models ; Q20 - Renewable Resources and Conservation; Environmental Management. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005198737