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Heterogeneity distributions of willingness-to-pay in choice models

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  • Garrett Sonnier

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  • Andrew Ainslie

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  • Thomas Otter

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    Abstract

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    File URL: http://hdl.handle.net/10.1007/s11129-007-9024-6
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    Bibliographic Info

    Article provided by Springer in its journal Quantitative Marketing and Economics.

    Volume (Year): 5 (2007)
    Issue (Month): 3 (September)
    Pages: 313-331

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    Handle: RePEc:kap:qmktec:v:5:y:2007:i:3:p:313-331

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    Web page: http://www.springerlink.com/link.asp?id=111240

    Related research

    Keywords: Bayesian analysis; Choice modeling; Willingness-to-pay; C11; M31;

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    References

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    1. Greg Shaffer & Z. John Zhang, 1995. "Competitive Coupon Targeting," Marketing Science, INFORMS, vol. 14(4), pages 395-416.
    2. Kamel Jedidi & Z. John Zhang, 2002. "Augmenting Conjoint Analysis to Estimate Consumer Reservation Price," Management Science, INFORMS, vol. 48(10), pages 1350-1368, October.
    3. David J. Spiegelhalter & Nicola G. Best & Bradley P. Carlin & Angelika van der Linde, 2002. "Bayesian measures of model complexity and fit," Journal of the Royal Statistical Society Series B, Royal Statistical Society, vol. 64(4), pages 583-639.
    4. John C. Liechty & Duncan K. H. Fong & Wayne S. DeSarbo, 2005. "Dynamic Models Incorporating Individual Heterogeneity: Utility Evolution in Conjoint Analysis," Marketing Science, INFORMS, vol. 24(2), pages 285-293, November.
    5. Kamel Jedidi & Sharan Jagpal & Puneet Manchanda, 2003. "Measuring Heterogeneous Reservation Prices for Product Bundles," Marketing Science, INFORMS, vol. 22(1), pages 107-130, July.
    6. Meijer, E. & Rouwendal, J., 2000. "Measuring welfare effects in models with random coefficients," Research Report 00F25, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
    7. Zellner, Arnold, 1978. "Estimation of functions of population means and regression coefficients including structural coefficients : A minimum expected loss (MELO) approach," Journal of Econometrics, Elsevier, vol. 8(2), pages 127-158, October.
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    Citations

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    Cited by:
    1. Balcombe, Kelvin & Chalak, Ali & Fraser, Iain, 2009. "Model selection for the mixed logit with Bayesian estimation," Journal of Environmental Economics and Management, Elsevier, vol. 57(2), pages 226-237, March.
    2. Jørgensen, Sisse Liv & Olsen, Søren Bøye & Ladenburg, Jacob & Martinsen, Louise & Svenningsen, Stig Roar & Hasler, Berit, 2013. "Spatially induced disparities in users' and non-users' WTP for water quality improvements—Testing the effect of multiple substitutes and distance decay," Ecological Economics, Elsevier, vol. 92(C), pages 58-66.
    3. Hole, Arne Risa & Kolstad, Julie Riise, 2010. "Mixed logit estimation of willingness to pay distributions: a comparison of models in preference and WTP space using data from a health-related choice experiment," Working Papers in Economics 03/10, University of Bergen, Department of Economics.
    4. Rouwendal, Jan & de Blaeij, Arianne & Rietveld, Piet & Verhoef, Erik, 2010. "The information content of a stated choice experiment: A new method and its application to the value of a statistical life," Transportation Research Part B: Methodological, Elsevier, vol. 44(1), pages 136-151, January.
    5. Daziano, Ricardo A., 2013. "Conditional-logit Bayes estimators for consumer valuation of electric vehicle driving range," Resource and Energy Economics, Elsevier, vol. 35(3), pages 429-450.
    6. Oded Netzer & Olivier Toubia & Eric Bradlow & Ely Dahan & Theodoros Evgeniou & Fred Feinberg & Eleanor Feit & Sam Hui & Joseph Johnson & John Liechty & James Orlin & Vithala Rao, 2008. "Beyond conjoint analysis: Advances in preference measurement," Marketing Letters, Springer, vol. 19(3), pages 337-354, December.
    7. Araña, Jorge E. & León, Carmelo J., 2009. "Understanding the use of non-compensatory decision rules in discrete choice experiments: The role of emotions," Ecological Economics, Elsevier, vol. 68(8-9), pages 2316-2326, June.
    8. Daziano, Ricardo A. & Achtnicht, Martin, 2013. "Accounting for uncertainty in willingness to pay for environmental benefits," ZEW Discussion Papers 13-059, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
    9. Stefanie Heinzle, 2012. "Disclosure of Energy Operating Cost Information: A Silver Bullet for Overcoming the Energy-Efficiency Gap?," Journal of Consumer Policy, Springer, vol. 35(1), pages 43-64, March.
    10. William Greene & David Hensher, 2010. "Does scale heterogeneity across individuals matter? An empirical assessment of alternative logit models," Transportation, Springer, vol. 37(3), pages 413-428, May.
    11. Gensler, Sonja & Hinz, Oliver & Skiera, Bernd & Theysohn, Sven, 2012. "Willingness-to-pay estimation with choice-based conjoint analysis: Addressing extreme response behavior with individually adapted designs," European Journal of Operational Research, Elsevier, vol. 219(2), pages 368-378.
    12. Doherty, Edel & Campbell, Danny & Hynes, Stephen, 2012. "Exploring cost heterogeneity in recreational demand," Working Papers 148832, Socio-Economic Marine Research Unit, National University of Ireland, Galway.
    13. Ke-Wei Huang, 2009. "Optimal criteria for selecting price discrimination metrics when buyers have log-normally distributed willingness-to-pay," Quantitative Marketing and Economics, Springer, vol. 7(3), pages 321-341, September.
    14. Mara Thiene & Riccardo Scarpa, 2009. "Deriving and Testing Efficient Estimates of WTP Distributions in Destination Choice Models," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 44(3), pages 379-395, November.
    15. Bart Vermeulen & Peter Goos & Riccardo Scarpa & Martina Vandebroek, 2011. "Bayesian Conjoint Choice Designs for Measuring Willingness to Pay," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 48(1), pages 129-149, January.

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