Estimation of the preference heterogeneity within stated choice data using semiparametric varying-coefficient methods

Tadao Hoshino*

*この研究の対応する著者

研究成果: Article査読

2 被引用数 (Scopus)

抄録

This study proposes the use of semiparametric varying-coefficient methods to estimate the preference heterogeneity within stated choice data. Semiparametric varying-coefficient methods have the potential to overcome the disadvantages of conventional random parameter models and latent class models. For binary probit models with varying coefficients, in particular, this study proposes an easy-to-compute local iterative least squares (LILS) approach, based on the expectation-maximization algorithm. The finite sample properties of the LILS estimator are assessed using Monte Carlo experiments. In order to demonstrate the practical usefulness of semiparametric varying-coefficient methods, we present an empirical study, conducting an economic valuation of a landscape with dichotomous choice contingent valuations.

本文言語English
ページ(範囲)1129-1148
ページ数20
ジャーナルEmpirical Economics
45
3
DOI
出版ステータスPublished - 2013 12月 1
外部発表はい

ASJC Scopus subject areas

  • 統計学および確率
  • 数学(その他)
  • 社会科学(その他)
  • 経済学、計量経済学

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