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Using Random Parameters to Account for Heterogeneous Preferences in Contingent Valuation of Public Open Space AgEcon
Nahuelhual, Laura; Loureiro, Maria L.; Loomis, John B..
To test for preference heterogeneity in dichotomous choice contingent valuation responses, a random parameter logit (RPL) specification is used in this analysis. The RPL model confirms heterogeneity in respondents' preferences for protection of public open space, as reflected in statistically significant standard deviations of the normally distributed random parameters. Results show that while the majority of respondents indicate a positive willingness to pay (WTP), a minority of those surveyed report a negative WTP. Some of this variation in tastes remains even after individual characteristics and attitudinal variables are included in the model.
Tipo: Journal Article Palavras-chave: Contingent valuation; Open space; Random parameter logit; Willingness to pay; Land Economics/Use.
Ano: 2004 URL: http://purl.umn.edu/30909
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Capturing Preference Heterogeneity in Stated Choice Models: A Random Parameter Logit Model of the Demand for GM Food AgEcon
Rigby, Dan; Burton, Michael P..
Analyses of data from random utility models of choice data have typically used fixed parameter representations, with consumer heterogeneity introduced by including factors such as the age, gender etc of the respondent. However, there is a class of models that assume that the underlying parameters of the estimated model (and hence preferences) are different for each individual within the sample, and that choices can be explained by identifying the parameters of the distribution from which they are drawn. Such a random parameter model is applied to stated choice data from the UK, and the results compared with standard fixed parameter models. The results provide new evidence of preferences for various aspects of the UK food system, particularly in relation to...
Tipo: Conference Paper or Presentation Palavras-chave: Random parameter logit; Choice modelling; GMOs; Food safety; Food Consumption/Nutrition/Food Safety.
Ano: 2003 URL: http://purl.umn.edu/58200
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