On The Frontier Of Generating Revealed Preference Choice Sets: An Efficient Approach
Deterministic rules for generating choice sets are often employed by analysts confronting universal sets with large numbers of alternatives. For destination choice analysis, site exclusion rules defined by travel time, distance, or quality have a behavioral appeal, yet are fundamentally limited by their one-dimension scope. To remedy this shortcoming while maintaining the concept that trips require costly inputs to yield utility generating outputs, we develop and test an exclusion rule for generating choice sets defined by efficiency measures derived from stochastic frontier econometric models. Choice set composition, site choice efficiency and probability of selection, and consumer surplus are compared with results obtained under alternative exclusion rules.
|Date of creation:||2004|
|Date of revision:|
|Contact details of provider:|| Postal: 555 East Wells Street, Suite 1100, Milwaukee, Wisconsin 53202|
Phone: (414) 918-3190
Fax: (414) 276-3349
Web page: http://www.aaea.org
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Smith, V. Kerry & Banzhaf, H. Spencer, 2003.
"Meta Analysis in Model Implementation: Choice Sets and the Valuation of Air Quality Improvements,"
dp-03-61, Resources For the Future.
- H. Spencer Banzhaf & V. Kerry Smith, 2007. "Meta-analysis in model implementation: choice sets and the valuation of air quality improvements," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 22(6), pages 1013-1031.
- Haab, Timothy C. & Hicks, Robert L., 1997.
"Accounting for Choice Set Endogeneity in Random Utility Models of Recreation Demand,"
Journal of Environmental Economics and Management,
Elsevier, vol. 34(2), pages 127-147, October.
- Timothy C. Haab & Robert L. Hicks, . "Accounting for Choice Set Endogeneity in Random Utility Models of Recreation Demand," Working Papers 9608, East Carolina University, Department of Economics.
- Timothy C. Haab & Robert L. Hicks, . "Accounting for Choice Set Endogeneity in Random Utility Models of Recreation Demand," Working Papers 9710, East Carolina University, Department of Economics.
- Smith, V Kerry & Palmquist, Raymond B & Jakus, Paul, 1991. "Combining Farrell Frontier and Hedonic Travel Cost Models for Valuing Estuarine Quality," The Review of Economics and Statistics, MIT Press, vol. 73(4), pages 694-99, November.
- Swait, Joffre & Ben-Akiva, Moshe, 1987. "Empirical test of a constrained choice discrete model: Mode choice in São Paulo, Brazil," Transportation Research Part B: Methodological, Elsevier, vol. 21(2), pages 103-115, April.
- David Scrogin & Kevin Boyle & George Parsons & Andrew J. Plantinga, 2004. "Effects of Regulations on Expected Catch, Expected Harvest, and Site Choice of Recreational Anglers," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 86(4), pages 963-974.
- Aigner, Dennis & Lovell, C. A. Knox & Schmidt, Peter, 1977. "Formulation and estimation of stochastic frontier production function models," Journal of Econometrics, Elsevier, vol. 6(1), pages 21-37, July.
- Uwe Jensen, 2000. "Is it efficient to analyse efficiency rankings?," Empirical Economics, Springer, vol. 25(2), pages 189-208.
- Robert L. Hicks & Ivar E. Strand, 2000. "The Extent of Information: Its Relevance for Random Utility Models," Land Economics, University of Wisconsin Press, vol. 76(3), pages 374-385.
- George R. Parsons & A. Brett Hauber, 1998. "Spatial Boundaries and Choice Set Definition in a Random Utility Model of Recreation Demand," Land Economics, University of Wisconsin Press, vol. 74(1), pages 32-48.
- George R. Parsons & GAndrew J. Plantinga & GKevin J. Boyle, 2000. "Narrow Choice Sets in a Random Utility Model of Recreation Demand," Land Economics, University of Wisconsin Press, vol. 76(1), pages 86-99.
- Morey, Edward R. & Waldman, Donald M., 1998. "Measurement Error in Recreation Demand Models: The Joint Estimation of Participation, Site Choice, and Site Characteristics," Journal of Environmental Economics and Management, Elsevier, vol. 35(3), pages 262-276, May.
When requesting a correction, please mention this item's handle: RePEc:ags:aaea04:20134. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search)
If references are entirely missing, you can add them using this form.