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delta method to calculate WTP (normal and log-normal parameters)
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stephanehess
- Site Admin
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- Joined: 24 Apr 2020, 16:29
Re: delta method to calculate WTP (normal and log-normal parameters)
yes, that's correct
Re: delta method to calculate WTP (normal and log-normal parameters)
How do we obtain the confidence interval for WTP estimates of the Mixed logit model?
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stephanehess
- Site Admin
- Posts: 1351
- Joined: 24 Apr 2020, 16:29
Re: delta method to calculate WTP (normal and log-normal parameters)
Hi
that's only easily possible if you can write down an analytic form for the WTP moments (as with a ratio of two lognormals). If not, you need something like in this paper DOI: 10.1016/j.trb.2013.09.010
Stephane
that's only easily possible if you can write down an analytic form for the WTP moments (as with a ratio of two lognormals). If not, you need something like in this paper DOI: 10.1016/j.trb.2013.09.010
Stephane