Dear Prof. Bierlaire
We are working on a choice experiment and are struggling with the inclusion of a monetary variable that will be dependent on improvements on a transportation system. However, the exact % increase in the fare relative to the improvement is not known. I have thus two questions:
1. How do make sure the alternative present a clear trade-off without a monetary variable? are there examples (references) that you suggest me to read?
2. How to include a monetary variable realistically in a choice experiment?
Thank you in advance
Anna Grigolon