This study extends the joint estimation of revealed and stated preference data literature by accounting for truncation in the revealed preference data. The analytical model and estimation procedure are used to estimate the value of recreational red snapper fishing in the Gulf of Mexico. This recreational red snapper valuation is decomposed into its direct and indirect components. As expected, t...

This paper develops a reduced form method of controlling for differences in information sets of subjects in public good discrete choice models, using stated preference data. The main contribution of our method comes from accounting for the effect of information provided during a survey on the mean and the variance of individual-specific scale parameters. In this way we incorporate both scale he...

One of the most criticism in Real Estate appraisal processes based on sales comparison approach is the reliability of data about market prices of comparable properties. The lack of information on house prices is particularly relevant in Italy, where households’ preference for housing wealth is very high, due also to the market orientation of Italian households for owner-occupation (Di Addario 2...