[Date Prev][Date Next][Thread Prev][Thread Next][Date index][Thread index]

From |
German Muchnik Izon <[email protected]> |

To |
[email protected] |

Subject |
st: Krinsky and Robb procedure |

Date |
Fri, 22 Aug 2008 17:54:57 -0600 |

Hi all, I have a new question. I am estimating 95% confidence intervals for willingness to pay (WTP) for a good using a command called wtpcikr that implements the Krinsky and Robb procedure, recently developed by P. Wilner Jeanty for stata. Based on a power point presentation given by Jeanty at the 6th North American Stata Users Group Meeting 2007, the steps of this procedure is as follows: 1.Estimate the WTP model of interest 2.Obtain the vector of parameter estimates and the variance-covariance (VCV) matrix 3.Calculate the Cholesky decomposition, C, of the VCV matrix such that 4.Randomly draw from standard normal distribution a vector x with k independent elements 5.Calculate a new parameter vector Z such that 6.Use the new parameter vector Z to calculate the WTP measures of interest 7.Repeat steps 4, 5, and 6 N(>=5000) times to obtain an empirical distribution of WTP 8.Sort the N values of the WTP function in ascending order 9.Obtain a 95% confidence interval around mean/median by dropping the top and bottom 2.5% of the observations The example given in this presentation is: drop _all . set memory 8m . use south . gen lbid=ln(bid) . probit ypay lbid unlimwat govtpur environ waterbill urban . wtpcikr lbid unlimwat govtpur environ waterbill urban, reps(50000) meanl expo Is there a way in stata to obtain a vector of the mean WTP's that are estimated in step 6 after each replication. Thank you!! German. * * For searches and help try: * http://www.stata.com/help.cgi?search * http://www.stata.com/support/statalist/faq * http://www.ats.ucla.edu/stat/stata/

**Follow-Ups**:**Re: st: Krinsky and Robb procedure***From:*Martin Weiss <[email protected]>

- Prev by Date:
**st: fixed effect, autocorrelation heteroskedasticity** - Next by Date:
**st: Disregard my email about Yaari request** - Previous by thread:
**st: fixed effect, autocorrelation heteroskedasticity** - Next by thread:
**Re: st: Krinsky and Robb procedure** - Index(es):

© Copyright 1996–2024 StataCorp LLC | Terms of use | Privacy | Contact us | What's new | Site index |