ProcessSimulationData

Cleaned up parameter simulations from PrepareSimulationData

est_sim

object

list containing
price_p with additive price increases, and
dat_psi_p with new psi data

policies

Number of simulation draws to use for parameter uncertainty

nsims

Internal function for WTP simulation

internal

Estimates and simulates Kuhn-Tucker demand models with individual heterogeneity. The package implements the multiple-discrete continuous extreme value (MDCEV) model and the Kuhn-Tucker specification common in the environmental economics literature on recreation demand. Latent class and random parameters specifications can be implemented and the models are fit using maximum likelihood estimation or Bayesian estimation. All models are implemented in Stan, which is a C++ package for performing full Bayesian inference (see Stan Development Team, 2019) <http://mc-stan.org>. The package also implements demand forecasting (Pinjari and Bhat (2011) <https://repositories.lib.utexas.edu/handle/2152/23880>) and welfare calculation (Lloyd-Smith (2018) <doi.org/10.1016/j.jocm.2017.12.002>) for policy simulation.

ProcessSimulationData: ProcessSimulationData

Description

Usage

Arguments