The role of the reference alternative in the specification of asymmetric discrete choice models
Lorenzo Masiero () and
John Rose ()
Quaderni della facoltà di Scienze economiche dell'Università di Lugano from USI Università della Svizzera italiana
Within the discrete choice modelling literature, there has been growing interest in including reference alternatives within stated choice survey tasks. Recent studies have investigated asymmetric utility specifications by estimating discrete choice models that include different parameters according to gains and losses relative to the values of the reference attributes. This paper analyses asymmetric discrete choice models by comparing specifications expressed as deviations from the reference point and specifications expressed in absolute values. The results suggest that the selection of the appropriate asymmetric model specification should be based on the type of the stated choice experiment.
Keywords: stated choice experiments; reference alternative; preference asymmetry; willingness to pay (search for similar items in EconPapers)
JEL-codes: C25 (search for similar items in EconPapers)
Pages: 14 pages
New Economics Papers: this item is included in nep-dcm, nep-ecm and nep-upt
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Journal Article: The role of the reference alternative in the specification of asymmetric discrete choice models (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:lug:wpaper:1104
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