Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/76151
Authors: 
Rischatsch, Maurus
Year of Publication: 
2009
Series/Report no.: 
Working Paper, Socioeconomic Institute, University of Zurich 0912
Abstract: 
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.
Subjects: 
willingness-to-pay
discrete choice
simulation
random-coefficient models
JEL: 
C15
C25
Document Type: 
Working Paper

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