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Nonparametric Bounds on Welfare Measures: A New Tool for Nonmarket Valuation

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Author Info
John Crooker
Catherine L. Kling () (Center for Agricultural and Rural Development (CARD))

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Abstract

Given the empirically observed sensitivity of welfare estimates to functional form, it is natural to consider whether nonparametric methods such as those developed by Varian might be of value in nonmarket welfare analysis. This study presents simple methods for constructing nonparametric bounds on compensating or equivalent variation for price changes based on nonparametric methods.

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Publisher Info
Paper provided by Center for Agricultural and Rural Development (CARD) at Iowa State University in its series Center for Agricultural and Rural Development (CARD) Publications with number 99-wp208.

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Date of creation: Nov 1998
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Handle: RePEc:ias:cpaper:99-wp208

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Varian, Hal R, 1982. "The Nonparametric Approach to Demand Analysis," Econometrica, Econometric Society, vol. 50(4), pages 945-73, July. [Downloadable!] (restricted)
  2. Chalfant, James A & Alston, Julian M, 1988. "Accounting for Changes in Tastes," Journal of Political Economy, University of Chicago Press, vol. 96(2), pages 391-410, April. [Downloadable!] (restricted)
  3. Kling, Catherine L. & Thomson, Cynthia J., 1999. "Implications of Model Specification for Welfare Estimation in Nested Logit Models (The)," Staff General Research Papers 1599, Iowa State University, Department of Economics.
  4. Kling, Catherine L., 1989. "The Importance Of Functional Form In The Estimation Of Welfare," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 14(01), July. [Downloadable!]
  5. Herriges, Joseph A. & Kling, Catherine L., 1999. "Performance of Nested Logit Models when Welfare Estimation Is the Goal (The)," Staff General Research Papers 1480, Iowa State University, Department of Economics.
  6. Kling, Catherine, 1999. "Importance of Functional Form in the Estimation of Welfare (The)," Staff General Research Papers 1596, Iowa State University, Department of Economics.
  7. Hanemann, W Michael, 1994. "Valuing the Environment through Contingent Valuation," Journal of Economic Perspectives, American Economic Association, vol. 8(4), pages 19-43, Fall. [Downloadable!] (restricted)
  8. Varian, Hal R, 1984. "The Nonparametric Approach to Production Analysis," Econometrica, Econometric Society, vol. 52(3), pages 579-97, May. [Downloadable!] (restricted)
  9. Cropper, Maureen L & Deck, Leland B & McConnell, Kenneth E, 1988. "On the Choice of Functional Form for Hedonic Price Functions," The Review of Economics and Statistics, MIT Press, vol. 70(4), pages 668-75, November. [Downloadable!] (restricted)
  10. Varian, Hal R., 1983. "Nonparametric Tests of Models of Investor Behavior," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 18(03), pages 269-278, September. [Downloadable!]
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Crooker, John R., 2007. "Nonparametric Bounds on Welfare with Measurement Error in Prices: Techniques for Non-Market Resource Valuation," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 36(2), October. [Downloadable!]
  2. Kjartan Sælensminde, 2002. "The Impact of Choice Inconsistencies in Stated Choice Studies," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 23(4), pages 403-420, December. [Downloadable!] (restricted)
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