Abstract

In repeated choice modelling studies, it is often the case that individuals always select the status quo option. Although these choices may reflect considered choices, they may also be the result of alternative decisions about whether to participate in the choice process at all. Alternative methods of dealing with this feature of such data are presented, with the implications for estimates of economic values. In particular we consider the alternatives of excluding such individuals from the data, using hurdle models to explicitly model this group, and consider the possibility of latent class models, that endogenously allow for difference preference structures. The application is to a stated preference choice modelling data set that investigates preferences towards forms of GM foods.

Full Text
Paper version not known

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.