MEASURING WILLINGNESS-TO-PAY IN DISCRETE CHOICE MODELS WITH SEMI- PARAMETRIC TECHNIQUES

Abstract

It is usual to estimate willingness-to-pay in discrete choice models through Logit models –or their expanded versions-. Nevertheless, these models have very restrictive distributional assumptions. This paper is intended to examine the above mentioned issue and to propose an alternative estimation using semi-parametric techniques (through Simple Index Models). Furthermore, this paper introduces an empirical application of willingness-to-pay for improved subway travel times in the City of Buenos Aires.Discrete Choice models, Econometrics, Transportation