Nonlinear Income Effects in Random Utility Models
研究随机效用模型中非线性收入效应的实证后果，以休闲钓鱼方式选择为例，改进并比较了福利估计方法，对从事离散选择模型应用的经济学者有参考价值。
Random utility models (RUMs) are used in the literature to model consumer choices from among a discrete set of alternatives, and they typically impose a constant marginal utility of income on individual preferences. This assumption is driven partially by the difficulty of constructing welfare estimates in models with nonlinear income effects. Recently, McFadden (1995) developed an algorithm for computing these welfare impacts using a Monte Carlo Markov chain simulator for generalized extreme-value variates. This paper investigates the empirical consequences of nonlinear RUMs in the case of sportfishing modal choice, while refining and contrasting the available methods for welfare estimation. © 1999 by the President and Fellows of Harvard College and the Massachusetts Institute of Technology