Sampling and Aggregation Issues in Random Utility Model Estimation

Peter M. Feather

American Journal of Agricultural Economics, 1994, vol. 76, issue 4, 772-780

Abstract: Measurement of nonmarket values often involves subjective judgments. Since these judgments may influence results, they should be carefully considered. I focus on an aspect of subjective choice relating to the estimation of random utility models. Such models require specification of each recreationalist's choice set. Whether an individual perceives his choice set as composed of all possible alternatives, a few popular alternatives, or collections of spatially aggregated alternatives is an important judgment affecting the conclusions.

Date: 1994
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Persistent link: https://EconPapers.repec.org/RePEc:oup:ajagec:v:76:y:1994:i:4:p:772-780.

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