It is usual to estimate willingness-to-pay in discrete choice models through Logit models –or their expanded versions-. Nevertheless, these models have very restrictive distributional assumptions. This paper is intended to examine the above- mentioned issue and to propose an alternative estimation using non-parametric techniques. Furthermore, this paper introduces an empirical application of willingness-to-pay for improved subway travel times in the City of Buenos Aires.
Willingness-To-Pay Discrete Choice Model Semi-Parametric Econometrics