Permanent URL to this publication: http://dx.doi.org/10.5167/uzh-51922
Rischatsch, Maurus (2009). Simulating WTP Values from Random-Coefficient Models. Working paper series / Socioeconomic Institute No. 912, University of Zurich.
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.
|Item Type:||Working Paper|
|Communities & Collections:||03 Faculty of Economics > Department of Economics|
Working Paper Series > Socioeconomic Institute (former)
|JEL Classification:||C15, C25|
|Deposited On:||29 Nov 2011 20:09|
|Last Modified:||09 Jul 2012 05:01|
|Series Name:||Working paper series / Socioeconomic Institute|
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