Caudill, Steven B.; Groothuis, Peter A.; Whitehead, John C. - In: American Journal of Agricultural Economics 93 (2011) 4, pp. 983-992
We offer a new approach to investigate hypothetical bias in contingent valuation using a latent choice multinomial logit model. To develop this model, we extend Dempster, Laird, and Rubin's 1977 work on the expectations maximization algorithm to the estimation of a multinomial logit model with...
