A censored random coefficients model for the detection of zero willingness to pay View Full Text


Ontology type: schema:ScholarlyArticle      Open Access: True


Article Info

DATE

2012-06

AUTHORS

Johannes Reichl, Sylvia Frühwirth-Schnatter

ABSTRACT

In this paper we address the problem of negative estimates of willingness to pay. We find that there exist a number of goods and services, especially in the fields of marketing and environmental valuation, for which only zero or positive WTP is meaningful. For the valuation of these goods an econometric model for the analysis of repeated dichotomous choice data is proposed. Our model restricts the domain of the estimates of WTP to strictly positive values, while also allowing for the detection of zero WTP. The model is tested on a simulated and a real data set. More... »

PAGES

259-281

References to SciGraph publications

  • 2007-12. A Bayesian methodology for simultaneously detecting and estimating regime change points and variable selection in multiple regression models for marketing research in QUANTITATIVE MARKETING AND ECONOMICS
  • 2007-09. Heterogeneity distributions of willingness-to-pay in choice models in QUANTITATIVE MARKETING AND ECONOMICS
  • 2005. The Cost of Power Outages to Heterogeneous Households in APPLICATIONS OF SIMULATION METHODS IN ENVIRONMENTAL AND RESOURCE ECONOMICS
  • 2005. Using Classical Simulation-Based Estimators to Estimate Individual WTP Values in APPLICATIONS OF SIMULATION METHODS IN ENVIRONMENTAL AND RESOURCE ECONOMICS
  • 2001-11. Addressing Negative Willingness to Pay in Dichotomous Choice Contingent Valuation in ENVIRONMENTAL AND RESOURCE ECONOMICS
  • Identifiers

    URI

    http://scigraph.springernature.com/pub.10.1007/s11129-011-9115-2

    DOI

    http://dx.doi.org/10.1007/s11129-011-9115-2

    DIMENSIONS

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