Nonparametric Discrete Choice Methods forMeasuring Economic Values

Ju-Chin Huang, Douglas W. Nychka and V. Smith

No 95-29, Working Papers from Duke University, Department of Economics

Abstract: The purpose of this research is to use measures of willingness to pay derived from random utility models as the basis for evaluating the properties of parametric and nonparametric estimators with binary choice data. Monte Carlo simulation results indicate that simple parametric methods outperform the nonparametric method for a range of underlying preference structures.

JEL-codes: C25 Q20 (search for similar items in EconPapers)
Date: 1995
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