Confidence intervals of willingness-to-pay for random coefficient logit models

Transportation Research Part B: Methodological

Volumn 58, Issue , 2013, Pages 199-214

  Bliemer, Michiel C J ^a   Rose, John M ^a  

^a UNIVERSITY OF SYDNEY   (Australia)

Author keywords

Confidence intervals; Delta method; Random coefficient logit; Willingness to pay

Indexed keywords

COVARIANCE MATRIX; TRAVEL TIME;

ANALYTICAL EXPRESSIONS; CONFIDENCE INTERVAL; DELTA METHOD; RANDOM COEFFICIENTS; RANDOM DISTRIBUTION; RANDOM PARAMETERS; VALUE OF TRAVEL TIME SAVINGS; WILLINGNESS TO PAY;

PARAMETER ESTIMATION;

EID: 84885195350     PISSN: 01912615     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.trb.2013.09.010     Document Type: Article

References (34)

1. Amador, F.J., González, R.M., Ortúzar, J.deD., Preference heterogeneity and willingness to pay for travel time savings. Transportation 32:6 (2005), 627–647.
2. Armstrong, P., Garrido, R.A., Ortúzar, J.deD., Confidence interval to bound the value of time. Transportation Research Part E 37:1 (2001), 143–161.
3. Bhat, C., Quasi-random maximum simulated likelihood estimation of the mixed multinomial logit model. Transportation Research Part B 35:7 (2001), 677–693.
4. Bierlaire, M., 2003. BIOGEME: a free package for the estimation of discrete choice models. In: Proceedings of the 3rd Swiss Transportation Research Conference. Ascona, Switzerland.
5. Bliemer, M.C.J., Rose, J.M., Hess, S., Approximation of Bayesian efficiency in experimental choice designs. Journal of Choice Modelling 1:1 (2008), 98–127.
6. Campbell, D., Willingness to pay for rural landscape improvements: combining mixed logit and random-effects models. Journal of Agricultural Economics 58:3 (2007), 467–483.
7. Cirillo, C., Hetrakul, P., 2010. Continuous random coefficient logit models: a comparison of parametric and non-parametric methods to estimate individual preferences over cybernetic transportation systems. In: Presented at the 89th Annual Meeting of the Transportation Research Board. Wasington DC, USA.
8. Daly, A., Hess, S., De Jong, G., Calculating errors for measures derived from choice modelling estimates. Transportation Research Part B 46:2 (2012), 333–341.
9. Daly, A., Hess, S., Train, K., Assuring finite moments for willingness to pay in random coefficient models. Transportation 39:1 (2012), 19–31.
10. Espino, R., Ortúzar, J.deD., Román, C., Confidence intervals for willingness to pay measures in mode choice models. Networks and Spatial Economics 6:2 (2006), 81–96.
11. Ettema, D., Gunn, H., De Jong, G., Lindveld, K., 1997. A simulation method for determining the confidence interval of a weighted group average value of time. In: Proceedings of the European Transport Conference, pp. 101–112.
12. Fosgerau, M., Investigating the distribution of the value of travel time savings. Transportation Research Part B 40:8 (2006), 688–707.
13. Fosgerau, M., Bierlaire, M., A practical test for the choice of mixing distribution in discrete choice models. Transportation Research Part B 41:7 (2007), 784–794.
14. Goett, A., Train, K., Hudson, K., Customer choice among retail energy suppliers: the willingness-to-pay for service attributes. The Energy Journal 21:4 (2000), 1–28.
15. Greene, W.H., Econometric Analysis. seventh ed., 2008, Prentice Hall.
16. Haab, T.C., McConnell, K.E., Valuing Environmental and Natural Resources: The Econometrics of Non-Market Valuation. 2003, Edward Elger Publishing.
17. Hensher, D.A., Greene, W.H., The mixed logit model: the state of the practice. Transportation 30:2 (2003), 133–176.
18. Hess, S., Bierlaire, M., Polak, J., Estimation of value of travel-time savings using mixed logit models. Transportation Research Part A 39:3 (2005), 221–236.
19. Krinsky, I., Robb, A.L., On approximating the statistical properties of elasticities. Review of Economics and Statistics 68:4 (1986), 715–719.
20. Krinsky, I., Robb, A.L., On approximating the statistical properties of elasticities: a correction. Review of Economics and Statistics 72:1 (1990), 189–190.
21. Layton, D., Brown, G., Heterogeneous preferences regarding global climate change. The Review of Economics and Statistics 82:2 (2000), 616–624.
22. Masiero, L., Maggi, R., 2010. Accounting for WTP/WTA discrepancy in discrete choice models: discussion of policy implications based on two freight transport stated choice studies. In: Presented at the Kuhmo-Nectar Conference on Transport Economics. Valencia.
23. McFadden, D., Conditional logit analysis of qualitative choice behaviour. Zarembka, P., (eds.) Frontiers in Econometrics, 1974, Academic Press, New York, 105–142.
24. McFadden, D., Train, K., Mixed MNL Models for discrete response. Journal of Applied Econometrics 15:5 (2000), 447–470.
25. Michaud, C., Llerena, D., Joly, I., Willingness to pay for environmental attributes of non-food products: a real choice experiment. European Review of Agricultural Economics 40:2 (2013), 313–329.
26. Oehlert, G.W., A note on the delta method. The American Statistician 46:1 (1992), 27–29.
27. Revelt, D., Train, K., Mixed logit with repeated choices. Review of Economics and Statistics 80:4 (1998), 647–657.
28. Rigby, D., Balcombe, K., Burton, M., Mixed logit model performance and distributional assumptions: preferences and GM foods. Environmental Resource Economics 42:3 (2009), 279–295.
29. Sándor, Z., Train, K., Quasi-random simulation of discrete choice models. Transportation Research Part B 38:4 (2004), 313–327.
30. Scarpa, R., Rose, J.M., Design efficiency for non-market valuation with choice modelling: how to measure it, what to report and why. Australian Journal of Agricultural and Resource Economics 52:3 (2008), 253–282.
31. Scarpa, R., Thiene, M., Train, K., Utility in willingness to pay space: a tool to address confounding random scale effects in destination choice to the Alps. American Journal of Agricultural Economics 90:4 (2008), 994–1010.
32. Sillano, M., Ortúzar, J.deD., Willingness-to-pay estimation with mixed logit models: some new evidence. Environment and Planning A 37:3 (2005), 525–550.
33. Train, K., Sonnier, G., Mixed logit with bounded distributions of correlated coefficients. Alberini, A., Scarpa, R., (eds.) Applications of Simulations Methods in Environmental Resource Economics, 2005, Kluwer Academics Publisher, Dordrecht, The Netherlands.
34. Train, K., Weeks, M., Discrete choice models in preference space and willingness-to-pay space. Alberini, A., Scarpa, R., (eds.) Applications of Simulations Methods in Environmental Resource Economics, 2005, Kluwer Academics Publisher, Dordrecht, The Netherlands.