Re: [Gretl-users] concerning the commands for double bounded DC in contingent valuation
On Mon, 19 Oct 2009, Allin Cottrell wrote:
> On Mon, 19 Oct 2009, Dorian Litvine wrote:
>
>> My name is Dorian, I'm trying to estimate the data of a double
>> bounded dichotomous choice (contingent valuation) thanks to a
>> maximum likelihood estimation with a linear specification...
When I first responded to this I was pretty much totally
unfamiliar with double-bounded contingent valuation. I've now
read a few paragraphs on the topic, so here are some further
thoughts -- now based on not-quite-total ignorance ;-). I'm
writing this up for the record in case it's of use to Dorian and
others who might want to use gretl for such a purpose.
If I'm not grossly mistaken, the model Allin is describing is exactly the
one that you can estimate via interval regression (the intreg command).
Dorian's script seems to use a slightly different model, since he uses
a logistic distribution instead of a normal, but that's not important.
In a double-bound valuation survey, the two bids enable to place the
respondents' willingness to pay inside an interval, which becomes your
"dependent variable", so to speak. I'm attaching an example script that
generates artificial data and should be (hopefully) self-explanatory.
Riccardo (Jack) Lucchetti
Dipartimento di Economia
Università Politecnica delle Marche
r.lucchetti(a)univpm.it
http://www.econ.univpm.it/lucchetti
Attachments:
- contingent_valuation.inp (application/x-gretlscript — 536 bytes)