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The authors have managed to strike the right balance between practicality and accuracy, without subtracting much of the econometric details.' Riccardo Scarpa - Gibson Chair for May Food, Rural and Environmental Economics, Queens University Belfast 'I cannot imagine a better introduction to choice modeling.The authors manage to bring a vivid, storytelling voice to this complex topic, with language that has personality and rhythm. Led work on EPA funded projects on the value of ecosystem services, NSF projects on climate change impacts, and DOD/DOE funded project on the economic impact of fugitive coal dust emissions and siting of energy facilities.
More intuition and further clarifications have been added.
Random Regret Minimization and Random Utility Maximization in the Presence of Preference Heterogeneity: An Empirical Contrast. Nine years on, the field has developed further, and David A. Applied choice analysis has now been extended to include all recent developments.
Workshop Synthesis: Stated Preference Surveys and Experimental Design, an Audit of the Journey so far and Future Research Perspectives. With its unique blend of theory, estimation, and application, this book has broad appeal to all those interested in choice modeling methods and will be a valuable resource for students as well as researchers, professionals, and consultants.
Many additional case studies are used to illustrate the applications of choice analysis with extensive command syntax provided for all Nlogit applications and datasets available online.
In addition to a complete rewrite of several chapters, new topics covered include ordered choice, scaled MNL, generalized mixed logit, latent class models, group decision making, heuristics and attribute processing strategies, expected utility theory, and prospect theoretic applications.
Comprehensive yet accessible, it offers a unique introduction to anyone interested in understanding how to model and forecast the range of choices made by individuals and groups.‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.Find out more about the Kindle Personal Document Service.The SP approach is used to provide comprehensive preference and valuation information on a wide range of situations (e.g., different fatal risk causes, different risk levels, different timing of risks) that are not available with observed behavior.Considerable variation is shown in the implied value of statistical life (VSL) depending on the risk level, type of risk (cancer, heart attack, or motor vehicle accident), and timing of risk.The various interrelated concepts and procedures that constitute choice modeling come across as simple and straightforward. The ins-and-outs of a computer code are also taught along with the statistical methods.