bws3Mwtp {RcmdrPlugin.BWS3}

Calculate Marginal Willingness to Pay

Description

Calculate marginal willingness to pay (MWTP) values of nonmonetary variables from the fitted model.

Details

This dialog box calculates MWTP values of nonmonetary variables from the model fitted in the ‘Fit Model to BWS3 Data’ dialog box using the function mwtp in support.CEs. This dialog box is activated if the fitted model is selected as the active model. For details on the results of this dialog box, refer to help for function mwtp.

GUI elements of this dialog box are as follows.

• Name for output: An R object name into which the calculated results obtained through this dialog box are stored. The default name ‘MWTP’ can be changed following R's rules for naming objects.

• Monetary variable: A variable used as the monetary variable in the calculation of MWTPs. Select one from this drop-down list of variables.

• Nonmonetary variables: Variables used as the nonmonetary variable(s) in the calculation of MWTP(s). Select one or more variables from this list box.

• Calculation method: A method used to calculate confidence intervals for MWTPs. Select one from two radio buttons corresponding to ‘Krinsky and Robb’ and ‘Delta’. For the details on these methods, see help for functions mwtp.

• Confidence level: A confidence level used for calculating the confidence intervals for MWTPs. The default is 0.95.

• Number of replications: A total number of replications for the Krinsky and Robb method.

• Seed for random number generator (optional): An integer value used as a seed for generating random numbers. If reproducibility is needed, type an arbitrary value into this box.