Wedevelop a multinomial logitmodel with missing information that can be used to test for hidden alternatives in random utility models and contingent valuation analysis. To illustrate our latentchoice technique, we focus on the “don’t know” responses in dichotomous choice contingent valuation questions. In this version of the latent-choice model, we probabilistically reassign “don’t know” responses to either the “yes” or “no” categories (or leave them in the “don’t know” category), if indicated by the data. We find that in our two studies a statistically significant number of the “don’t know” responses are actually “no” responses.
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Article provided by University of Wisconsin Press in its journal Land Economics.
Find related papers by JEL classification: C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models Q26 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Recreational Aspects of Natural Resources
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