A new baseline model for estimating willingness to pay from discrete choice models

TL;DR: In this paper, the authors used a discrete choice experiment to investigate individuals' preferences for future conditions of Texas habitats within the Galveston Bay region, using modeled output for coverage of freshwater marsh and undeveloped dry upland in the year 2050, respondents were asked to make trade-offs between coastal conditions with no further management actions and outcomes associated with specific management interventions.

TL;DR: The results indicate participants not provided with GM information are willing to pay a premium for Verified Non-GM and Organic fillets, but require a discount for Fed- GM and GM fillets.

TL;DR: In this paper, the authors used a stated preference approach to assess potential impacts of offshore wind farms on recreational boaters in and around Rhode Island (US) waters and found that the value of a recreational boating experience is considerably reduced in areas with offshore wind fields.

TL;DR: In this article, the authors investigated the willingness to pay (WTP) of residential customers based on two samples of 838 and 59 respondents, respectively, and found that, on average, WTP for regional electricity generation is positive, especially among female, younger and better-educated customers, although differences in WTP between sociodemographic characteristics are small.

TL;DR: Mixed logit as mentioned in this paper is a generalization of standard logit that does not exhibit the restrictive independence from irrelevant alternatives property and explicitly accounts for correlations in unobserved utility over repeated choices by each customer.

TL;DR: The delta method is an intuitive technique for approximating the moments of functions of random variables and conditions under which delta-method approximate moments are accurate.

TL;DR: Comprehensive yet accessible, this book offers a unique introduction to anyone interested in understanding how to model and forecast the range of choices made by individuals and groups.

TL;DR: In this article, the authors compare models that use normal and log-normal distributions for coefficients with models using these distributions for WTP (called models in WTP space), and find that the models in preference space fit the data better but provide less reasonable distributions of WTP than the models of preference space.