dccvWtp {RcmdrPlugin.DCCV}

Calculate Confidence Intervals for WTP

Description

Calculate confidence intervals for a willingness to pay (WTP) from the fitted model.

Details

This dialog box uses either function krCI or bootCI in package DCchoice to calculate confidence intervals for a WTP from the fitted model. This dialog box is activated if the fitted model in the ‘Fit Model to DCCV Data’ dialog box is selected as the active model. For details on the results of this dialog box, refer to the help content for krCI or bootCI.

GUI elementsof this dialog box are as follows.

• Name for output: An R object name into which the results are stored. The default name is ‘WTP’. Any name that is valid for R is typed into this box, if necessary.

• Calculation method: A method used to calculate confidence intervals for a WTP. Select one of the two radio buttons corresponding to ‘Krinsky and Robb’ and ‘Bootstrap’. For the details on these methods, see help for functions krCI and bootCI.

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

• Number of replications: Total number of replications. The term ‘replication’ corresponds to ‘resampling’ for ‘Bootstrap’ and ‘drawing’ for ‘Krinsky and Robb’. The default is 200, which may be small.

• 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.