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Generalized Estimation Methods for Non-i.i.d. Binary Data: An Application to Dichotomous Choice Contingent Valuation
Sooil Kim and
2005 Annual meeting, July 24-27, Providence, RI from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)
We challenge the assumption of i.i.d random utility across alternatives embedded in typical applications of logit models to dichotomous choice contingent valuation data. Using a Gumbel mixed distribution which nests a number of traditional models, we show that the logistic distribution is not a suitable distribution for contingent valuation analysis.
Keywords: Research Methods/ Statistical Methods (search for similar items in EconPapers)
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