Modeling Shifts in Willingness to Pay from a Bayesian Updating Perspective
基于贝叶斯更新行为模型，推导了双边界二分式条件价值评估中支付意愿转变的结构性变化实证设定，并通过模拟和实证验证了传统方法的偏差及修正方法。
This paper derives a structural shift empirical specification for a double-bound dichotomous choice contingent valuation methodology premised upon willingness-to-pay (WTP) shifts ensuing from a representative model of respondent Bayesian updating behavior. We demonstrate by way of data simulations that a traditional structural shift specification may often fail at estimating true WTP in this context. Further simulations demonstrate that a simple extension of the traditional structural shift model derived explicitly from our Bayesian framework can correct for much of the WTP bias, with an empirical application confirming the simulation outcomes. Finally, we investigate the relationship between strategic behavior and WTP shifts. <i></i>