Please help me with my thesis through directing me to the specific methodology applied to generating the willingness to pay. What happens after conditional logit analysis?
Stated Choice Methods
Analysis and Applications
AUTHORS:Jordan J. Louviere, University of South AustraliaDavid A. Hensher, University of SydneyJoffre D. Swait, University of FloridaDATE PUBLISHED: October 2000
...has some really nice explanations and examples on Willingness to Pay, as well as some good references. You might also check out:
Freeman (1993) The Measurement of Environmental and Resource Values, which delves pretty deeply in how to measure value in a market.
Thank you so much, you are a great help! By the way, would you happen to know what diagnostic tests that can be used to know if the model JMP used is the best model? For example, for time series data, BIC and AIC values dictate the model's goodness of fit, does JMP have the same indicator for choice data?
The Choice model documentation is here: Choice Models
You can use it to find out which statistics are available in the platform.