Arbeitspapier
Simulating WTP values from random-coefficient models
Discrete Choice Experiments (DCEs) designed to estimate willingness-to-pay (WTP) values are very popular in health economics. With increased computation power and advanced simulation techniques, random-coefficient models have gained an increasing importance in applied work as they allow for taste heterogeneity. This paper discusses the parametrical derivation of WTP values from estimated random-coefficient models and shows how these values can be simulated in cases where they do not have a known distribution.
- Language
-
Englisch
- Bibliographic citation
-
Series: Working Paper ; No. 0912
- Classification
-
Wirtschaft
Statistical Simulation Methods: General
Single Equation Models; Single Variables: Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities
- Subject
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willingness-to-pay
discrete choice
simulation
random-coefficient models
Willingness to pay
Simulation
Diskrete Entscheidung
Statistische Verteilung
Theorie
- Event
-
Geistige Schöpfung
- (who)
-
Rischatsch, Maurus
- Event
-
Veröffentlichung
- (who)
-
University of Zurich, Socioeconomic Institute
- (where)
-
Zurich
- (when)
-
2009
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Rischatsch, Maurus
- University of Zurich, Socioeconomic Institute
Time of origin
- 2009
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