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

TL;DR: In this article, a choice experiment was conducted to examine producer preferences for contracts to produce a risky bioenergy crop, and the authors developed a framework accounting for subjective risk preferences and perceptions, and heterogeneous status-quo alternatives.

TL;DR: The authors investigated the appropriateness of conservation agriculture for small-scale farming as poor farmers tend to be risk averse, typically lack access to credit, and may have planning horizons associated with heavily discounted future benefits.

TL;DR: In this article, the authors use a choice experiment survey in a typical subwatershed of the Mississippi River Basin to estimate willingness to pay for local environmental improvements and helping to reduce hypoxia far downstream.

TL;DR: In this article, the results of choice experiments using time and money payments are compared in the context of EbA measures in Vietnam and the authors discuss implications of these results for the conversion of time to money and the use of resulting WTP estimates in cost benefit analyses in developing countries.

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.