Dear all,
I want to claculate WTP 95% CI and used the function apollo_bootstrap to produce bootstrap estimates. As a result of the bootstrap estimation of the example, it gives mean parameter values and covariance matrix. What should have done after this step to get the comparable result of WTP intervals?
Could you give me a coding example?
This question troubles me for a long time, so I will very appreciate it if you can give me any advice!!
Best,
Chunyu
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WTP intervals
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stephanehess
- Site Admin
- Posts: 998
- Joined: 24 Apr 2020, 16:29
Re: WTP intervals
Chunyu
if you have bootstrapped estimates of the betas, then you can calculate wtp for each boostrap set of parameters, and then look at the distribution of those and compute an empirical confidence interval
Stephane
if you have bootstrapped estimates of the betas, then you can calculate wtp for each boostrap set of parameters, and then look at the distribution of those and compute an empirical confidence interval
Stephane