Dear all,
I have data from a choice experiment with 120 individuals who answered from 6 sets of situations each. Each set of the situation requires from individuals to choose between two options and "opt-out " option. In each option are seven attributes, besides the distance (converted in cost).
I’m interested into obtaining the willingness to pay for each attribute. To do so, I have used the command mixlogit (available in Stata Journal Volume 7, Number 3) to fit mixed logit models. In my model, I used the Cost and Cost squared ( their coefficients are negative and positive, respectively).
The willingness-to-pay for each attribute has traditionally been calculated by dividing the attribute coefficient of the selected attribute by the coefficient associated with a price (or a cost). However, given that the utility is nonlinear with respect to price, I cannot use the traditional expression to calculate WTP values because the slope is not constant.
I calculated the Price (cost) Threshold by: CoefficientCost / (2*CoeffcientCostSquared)
My question is: How can I calculate the WTP for each attribute, given this nonlinear Function??
Thanks in advance
Fathallah Kerouaz.
Related Posts with Mixlogit: willingness to pay with quadratic costs
Concentration Index with Grouped IncomeHi all, I am trying to implement the overall correction for unequal income group stated in Clarke, …
expand data.Dear All, I have this data set Code: * Example generated by -dataex-. To install: ssc install datae…
Testing coefficients or predictions with > 500,000 unit fixed effectsPROBLEM: I am examining how mobility fell during a COVID lockdown in two types of communities, slum…
Use margins to obtain indirect marginal effects on a SUR modelHi, suppose I want to estimate the following system of equations, and that I want to capture how doe…
Splitting a dateDoes anyone know how I can split a date that looks like this: 29jan2017 00:00:00 It is str18 varia…
Subscribe to:
Post Comments (Atom)
0 Response to Mixlogit: willingness to pay with quadratic costs
Post a Comment