Modeling preference heterogeneity in stated choice data: An analysis for public goods generated by agriculture

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dc.contributor.author Colombo, Sergio en_US
dc.contributor.author Hanley, Nick en_US
dc.contributor.author Louviere, Jordan en_US
dc.contributor.editor en_US
dc.date.accessioned 2010-05-28T09:53:11Z
dc.date.available 2010-05-28T09:53:11Z
dc.date.issued 2009 en_US
dc.identifier 2008001967 en_US
dc.identifier.citation Colombo Sergio, Hanley Nick, and Louviere Jordan 2009, 'Modeling preference heterogeneity in stated choice data: An analysis for public goods generated by agriculture', Wiley-Blackwell Publishing, Inc., vol. 40, no. 3, pp. 307-322. en_US
dc.identifier.issn 0169-5150 en_US
dc.identifier.other C1 en_US
dc.identifier.uri http://hdl.handle.net/10453/9970
dc.description.abstract Stated choice models based on the random utility framework are becoming increasingly popular in the applied economics literature. The need to account for respondents' preference heterogeneity in such models has motivated researchers in agricultural, environmental, health, and transport economics to apply random parameter logit and latent class models. In most of the published literature these models incorporate heterogeneity in preferences through the systematic component of utility. An alternative approach is to investigate heterogeneity through the random component of utility, and covariance heterogeneity models are one means of doing this. In this article we compare these alternative ways of incorporating preference heterogeneity in stated choice models and evaluate the sensitivity of estimated welfare measures to which approach is selected. We find that a latent class approach fits our data best, but all the models perform well in terms of out-of-sample predictions. Finally, we discuss what criteria a researcher can use to decide which approach is most appropriate for a given data set. en_US
dc.language en_US
dc.publisher Wiley-Blackwell Publishing, Inc. en_US
dc.relation.isbasedon http://dx.doi.org/10.1111/j.1574-0862.2009.00377.x en_US
dc.title Modeling preference heterogeneity in stated choice data: An analysis for public goods generated by agriculture en_US
dc.parent Agricultural Economics en_US
dc.journal.volume 40 en_US
dc.journal.number 3 en_US
dc.publocation USA en_US
dc.identifier.startpage 307 en_US
dc.identifier.endpage 322 en_US
dc.cauo.name BUS.School of Marketing en_US
dc.conference Verified OK en_US
dc.for 140201 en_US
dc.personcode 0000047974 en_US
dc.personcode 0000047975 en_US
dc.personcode 020132 en_US
dc.percentage 100 en_US
dc.classification.name Agricultural Economics en_US
dc.classification.type FOR-08 en_US
dc.edition en_US
dc.custom en_US
dc.date.activity en_US
dc.location.activity en_US
dc.description.keywords C52; Q51; Q57; Choice experiments; Covariance heterogeneity model; Agri-environmental policy; Landscape values; Latent class model; Preference heterogeneity; Random parameter logit model; Error component models; Welfare measures en_US
dc.staffid 020132 en_US


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