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In this paper we examine the performance of nested logit models in the face of two specification errors. The first specification error arises when a nested logit model is appropriate, but the wrong nesting structure is chosen. The second specification error occurs when the underlying stochastic...
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Manski (1999) proposed an approach for dealing with a particular form respondent uncertainty in discrete choice settings, particularly relevant in survey based research when the uncertainty stems from the incomplete description of the choice scenarios. Specifically, he suggests eliciting choice...
Persistent link: https://www.econbiz.de/10008870937
A Bayesian variable selection procedure is used to control for uncertainty in the specification of a recreational demand model. Specifically, we propose a model that draws on the Bayesian paradigm to integrate the variable selection process into the model and reflect the accompanying uncertainty...
Persistent link: https://www.econbiz.de/10008677576
Matching grants are commonly used to influence the bundle of public goods provided by governments. A contingent valuation experiment was designed to determine the value that individuals place on improved recreational facilities under a matching grant proposal. The experiment provided an...
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