Validation of empirical measures of welfare change: comment
AbstractIn an excellent article from a recent issue of this journal, Sellar, Stoll and Chavas (1985) make a technical error which causes them to misstate their closed-ended estimates of willingness to pay. Truncation of the estimated cummulative distribution function must we made explicit in compution of willingness to pay.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 31237.
Date of creation: 1988
Date of revision:
Publication status: Published in Land Economics 1.64(1988): pp. 94-98
nonmarket valuation; contingent valuation; stated preferences; welfare evaluation; willingness to pay;
Find related papers by JEL classification:
- H4 - Public Economics - - Publicly Provided Goods
- C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General
- D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
- Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
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