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| Type | Working Paper |
| Scope | Discipline-based scholarship |
| Title | Simulating WTP Values from Random-Coefficient Models |
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| Institution | University of Zurich |
| Series Name | Working paper series / Socioeconomic Institute |
| Number | No. 912 |
| Date | 2009 |
| Abstract Text | Discrete Choice Experiments (DCEs) designed to estimate willingness-to-pay (WTP) values are very popular in health economics. With increased computation power and advanced simulation techniques, random-coefficient models have gained an increasing importance in applied work as they allow for taste heterogeneity. This paper discusses the parametrical derivation of WTP values from estimated random-coefficient models and shows how these values can be simulated in cases where they do not have a known distribution. |
| Official URL | http://www.econ.uzh.ch/wp.html |
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