Output details
14 - Civil and Construction Engineering
University of Leeds
Article title
Assuring finite moments for willingness to pay in random coefficients models
Type
D - Journal article
Title of journal
Transportation
Article number
-
Volume number
39
Issue number
1
First page of article
19
ISSN of journal
00494488
Year of publication
2011
URL
-
Number of additional authors
2
Additional information
Willingness to pay (WTP) is one of the key products of discrete choice modelling. In particular, mean WTP is a vital input to appraisals, but many published papers have found inadequate solutions, risking biased outputs and therefore incorrect appraisals of policy. This paper, with a distinguished American collaborator, specifies this inadequacy precisely in a theorem, illustrates the potential failings and suggests alternative approaches. The paper has already been referenced in publications in several fields of analysis (transport, health care, water management and several environmental fields) and was the most cited paper published in Transportation in 2012.
Interdisciplinary
-
Cross-referral requested
-
Research group
None
Proposed double-weighted
No
Double-weighted statement
-
Reserve for a double-weighted output
No
Non-English
No
English abstract
-
