Data and Code for: Supervised Machine Learning for Eliciting Individual Demand
收藏ICPSR2023-01-01 更新2026-04-16 收录
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https://www.openicpsr.org/openicpsr/project/180561/version/V1/view
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资源简介：
The canonical direct-elicitation approach for measuring individuals’ valu- ations for goods is the Becker-DeGroot-Marschak procedure, which generates willingness-to-pay (WTP) values that are imprecise and systematically biased. We show that enhancing elicited WTP values with supervised machine learn- ing (SML) can improve estimates of peoples’ out-of-sample purchase behavior. Furthermore, swapping WTP data with choice data generated from a simple task leads to comparable performance. We quantify the benefit of using various SML methods in conjunction with using different types of data. Our results suggest that prices set by SML would increase revenue by 29% over using the stated WTP, with the same data.
提供机构：
University of Oregon; Claremont Graduate University; Stanford University
创建时间：
2023-01-01
