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A note on the large sample properties of the welfare change estimator in linear-in-income logit

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  • Delle Site, Paolo

Abstract

In linear-in-income logit, a case with no income effect, the expectation ofthe compensating variation and the expectation of the equivalent variation are identical and provided by the logsum formula. The statistical properties of the estimator of this measure of welfare change are investigated. Under regularity conditions, the estimator of the measure obtained from maximum likelihood estimators of the utility coefficients is consistent, asymptotically normal and asymptotically efficient. Estimates are provided of the variance of the estimator of the measure, useful to derive large sample confidence bounds, and of the covariance of estimators of the measure in distinct scenarios, useful for large sample hypothesis testing.

Suggested Citation

  • Delle Site, Paolo, 2021. "A note on the large sample properties of the welfare change estimator in linear-in-income logit," Journal of choice modelling, Elsevier, vol. 38(C).
    • Handle: RePEc:eee:eejocm:v:38:y:2021:i:c:s1755534520300506
    DOI: 10.1016/j.jocm.2020.100253
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    Cited by:

    1. Francesco Filippi, 2022. "A Paradigm Shift for a Transition to Sustainable Urban Transport," Sustainability, MDPI, vol. 14(5), pages 1-27, March.
    2. Paolo Delle Site & André de Palma & Karim Kilani, 2021. "Consumers’ welfare and compensating variation: survey and mode choice application," THEMA Working Papers 2021-11, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.

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