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Sampling and Aggregation Issues in Random Utility Model Estimation
Author(s) -
Feather Peter M.
Publication year - 1994
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.2307/1243738
Subject(s) - estimation , choice set , nonmarket forces , set (abstract data type) , focus (optics) , econometrics , sampling (signal processing) , computer science , economics , microeconomics , physics , management , optics , filter (signal processing) , factor market , computer vision , programming language
Measurement of nonmarket values often involves subjective judgments. Since these judgments may influence results, they should be carefully considered. I focus on an aspect of subjective choice relating to the estimation of random utility models. Such models require specification of each recreationalist's choice set. Whether an individual perceives his choice set as composed of all possible alternatives, a few popular alternatives, or collections of spatially aggregated alternatives is an important judgment affecting the conclusions.