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Using a Control Function to Resolve the Travel Cost Endogeneity Problem in Recreation Demand Models

Melstrom, Richard; Lupi, Frank - Volkswirtschaftliche Fakultät, … - 2012

This paper proposes using a control function to correct for endogeneity in recreation demand models. The control function approach is contrasted with the method of alternative specific constants (ASCs), which has been cautiously promoted in the literature. As an application, we consider the case...

Persistent link: https://www.econbiz.de/10011112635

Generosity in bargaining: Fair or fear?

Breitmoser, Yves; Tan, Jonathan H.W. - Volkswirtschaftliche Fakultät, … - 2010

Are "generous" bargaining offers made out of fairness or in fear of rejection? We disentangle risk and social references by analyzing experimental behavior in three majority bargaining games: (1) a random-proposer game with infinite time horizon; 2) a one round proposer game with disagreement...

Persistent link: https://www.econbiz.de/10008765071

Calibrating Benefit Function Transfer to Assess the Conservation Reserve Program

Hellerstein, Daniel; Feather, Peter - Volkswirtschaftliche Fakultät, … - 1997

Benefit transfer offers an inexpensive alternative to conducting an original study to determine economic value. Unfortunately, benefit transfers can also result in biased welfare estimates. In this paper, we suggest a method of calibrating the benefit transfer to reduce this bias. An empirical...

Persistent link: https://www.econbiz.de/10008681020

Segmentation for path models and unobserved heterogeneity: The finite mixture partial least squares approach

Ringle, Christian M. - Volkswirtschaftliche Fakultät, … - 2006

heterogeneity of estimates in the inner path model, as it is implemented in a software application for statistical computation. This …

Persistent link: https://www.econbiz.de/10005787133

Modelling heterogeneity in response behaviour towards a sequence of discrete choice questions: a latent class approach

McNair, Ben J.; Hensher, David A.; Bennett, Jeff - Volkswirtschaftliche Fakultät, … - 2010

data sources and find three distinct types of response behaviour. The results suggest that accounting for heterogeneity in …

Persistent link: https://www.econbiz.de/10008564505

Accounting for latent classes in movie box office modeling

Antipov, Evgeny; Pokryshevskaya, Elena - Volkswirtschaftliche Fakultät, … - 2010

This paper addresses the issue of unobserved heterogeneity in film characteristics influence on box-office. We argue …

Persistent link: https://www.econbiz.de/10008777400

Easy and flexible mixture distributions

Fosgerau, Mogens; Mabit, Stefan - Volkswirtschaftliche Fakultät, … - 2013

We propose a method to generate flexible mixture distributions that are useful for estimating models such as the mixed logit model using simulation. The method is easy to implement, yet it can approximate essentially any mixture distribution. We test it with good results in a simulation study...

Persistent link: https://www.econbiz.de/10011113364

A practical test for the choice of mixing distribution in discrete choice models

Fosgerau, Mogens; Bierlaire, Michel - Volkswirtschaftliche Fakultät, … - 2007

The choice of a specific distribution for random parameters of discrete choice models is a critical issue in transportation analysis. Indeed, various pieces of research have demonstrated that an inappropriate choice of the distribution may lead to serious bias in model forecast and in the...

Persistent link: https://www.econbiz.de/10011114386

Explaining, modelling and measuring the heterogeneity in shipper's value of time

massiani, jerome - Volkswirtschaftliche Fakultät, … - 2008

The intention of the present article is to shed light on the heterogeneity of value of time among shippers. In order to … heterogeneity could be represented in the framework of Mixed Logit which is increasingly popular among the Transport Science … time and costs attributes. In the final part of this article, we make an estimate of the value of time heterogeneity using …

Persistent link: https://www.econbiz.de/10005621490

An approach to the estimation of the distribution of marginal valuations from discrete choice data

Fosgerau, Mogens; Hjort, Katrine; Vincent Lyk-Jensen, … - Volkswirtschaftliche Fakultät, … - 2007

Models such as the mixed logit are often used to measure the distribution of the marginal value of a good based on discrete choice panel data. There are however serious specification and identification issues that are rarely addressed. The consequences for results may be dramatic. This paper...

Persistent link: https://www.econbiz.de/10005616999