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

研究成果: Article

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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.

元の言語English
ページ(範囲)1129-1148
ページ数20
ジャーナルEmpirical Economics
45
発行部数3
DOI
出版物ステータスPublished - 2013 12 1
外部発表Yes

ASJC Scopus subject areas

  • Statistics and Probability
  • Mathematics (miscellaneous)
  • Social Sciences (miscellaneous)
  • Economics and Econometrics

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