Asymmetric preference formation in willingness to pay estimates in discrete choice models

By Stephane Hess, John M. Rose, David A. Hensher. 2008

219 citations recorded by the source corpus.

Subfields: Economics and Econometrics, General Decision Sciences, Marketing

View Paper: https://www.semanticscholar.org/paper/535194e356cef2a9a348098bdec6996c4f370f7a

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Citations in the corpus

Stated preferences for tropical wildlife conservation amongst distant beneficiaries: Charisma, endemism, scope and substitution effects (2012, unknown): “tested using the corrected Akaike Information Criterion (AICc) which, after Hess et al. (2008), is calculated by, −2LL(β)+2(Np/N−p−1), where N is the number of observations and p is the estimated parameters – lower values indicating superior fit.”
Analyzing loss aversion and diminishing sensitivity in a freight transport stated choice experiment (2010, methodology): “Specifically, according to the value function definition and following Hess et al. (2008) and Lanz et al.”
Using Conditioning on Observed Choices to Retrieve Individual-Specific Attribute Processing Strategies (2010, background): “…paid to attributes in a package of attributes, referencing of new or hypothetical attribute packages around a recent or past experience (see e.g. Hess et al., 2008), and attribute aggregation where they are in common units (see Gilovich et al. 2002 for a series of papers that synthesise the…”
Willingness to pay for environmental attributes of non-food agricultural products: a real choice experiment (2013, background): “…of symmetry of the hypothesised distribution allows the decision-maker to display negative WTP. Discussion about the choice of an appropriate distribution and its impact on the estimated WTP is still in progress in the literature (see for example Hess et al., 2004, 2008, Sillano and Ortuzar, 2005).”
Revisiting reference point formation, gains-losses asymmetry and non-linear sensitivities with an emphasis on attribute specific treatment (2012, background): “Several recent papers have looked at incorporating reference-dependence in a choice mod-31 elling setting (De Borger and Fosgerau, 2008, Hess et al., 2008, Lanz et al., 2010, Senbil and32 Kitamura, 2004, Delle Site and Filippi, 2011).”
Valuation of Travel Time (2012, background): “…to be due to income effects, is named “loss aversion” since people show more aversion to the loss of some consumption item than they show a desire for an equivalent amount of gain.29 A comparable situation in travel behavior is documented by De Borger and Fosgerau (2008) and Hess et al. (2008).”
Random regret minimization or random utility maximization: An exploratory analysis in the context of automobile fuel choice (2013, background): “Indeed there are a number of studies under RUM that investigate deviations from a reference or status quo alternative that involve using data in a differencing manner (see for example, Hess et al. 2008).”
Should Reference Alternatives in Pivot Design SC Surveys be Treated Differently? (2009, background): “For an in-depth discussion of this topic, see Hess et al. (2007). The utility function for the reference alternative now contains only a constant, while the utility functions for the two hypothetical SC alternatives contain two coefficients for each attribute, one associated with increases relative ”
Modelling mode choice for freight transport using advanced choice experiments (2015, methodology): “distribute standard Normal for all observations corresponding to the same respondent and were multiplied by a parameter theta to be estimated, as in Hess et al. (2008). In model ML1 all parameters are specified as fixed values and resulted significant with a consistent sign.”
Non-trading, lexicographic and inconsistent behaviour in stated choice data (2010, background): “At this point, it should also be noted that in some cases, apparent inconsistent behaviour can be explained on the basis of other phenomena such as reference dependence (cf. de Borger and Fosgerau, 2007; Hess et al., 2008).”