Dear Prof.,
Please, I estimated my DCE data in preference space and specify the price coefficient to follow a negative log-uniform distribution. Say B represents my attribute coefficient and p my price coefficient, is it correct to state that WTP for the attribute = B/-exp(p)? Please, I will appreciate your guidance.
Thank you,
Gbenga
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Computation of WTP for log-uniform Price Specification
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stephanehess
- Site Admin
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- Joined: 24 Apr 2020, 16:29
Re: Computation of WTP for log-uniform Price Specification
Hi
yes, but you need to recognise that p is distributed. The easiest way of then calculating the wtp would be for you to use apollo_unconditionals. If you show us your code in the forum, then we can help more
Stephane
yes, but you need to recognise that p is distributed. The easiest way of then calculating the wtp would be for you to use apollo_unconditionals. If you show us your code in the forum, then we can help more
Stephane
Re: Computation of WTP for log-uniform Price Specification
Dear Prof.,
Thank you very much for your reply. I actually saw how to use the apollo_unconditionals to compute the wtp in one of your replies to a similar question. I will reach out if I have need any other assistance on this.
Best regards,
Gbenga
Thank you very much for your reply. I actually saw how to use the apollo_unconditionals to compute the wtp in one of your replies to a similar question. I will reach out if I have need any other assistance on this.
Best regards,
Gbenga