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Incorporating observed choice into the construction of welfare measures from random utility models

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  • von Haefen, Roger H.

Abstract

This paper proposes an approach to welfare measurement with random utility models that, in contrast to traditional approaches, incorporates the implications of an individual's observed choice.
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Suggested Citation

  • von Haefen, Roger H., 2003. "Incorporating observed choice into the construction of welfare measures from random utility models," Journal of Environmental Economics and Management, Elsevier, vol. 45(2), pages 145-165, March.
  • Handle: RePEc:eee:jeeman:v:45:y:2003:i:2:p:145-165
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    7. Kling, Catherine L. & Bockstael, Nancy & Hanemann, W. Michael, 1987. "Estimating the Value of Water Quality Improvements in a Recreational Demand Framework," Staff General Research Papers Archive 1594, Iowa State University, Department of Economics.
    8. Small, Kenneth A & Rosen, Harvey S, 1981. "Applied Welfare Economics with Discrete Choice Models," Econometrica, Econometric Society, vol. 49(1), pages 105-130, January.
    9. Steven Stern, 1997. "Simulation-Based Estimation," Journal of Economic Literature, American Economic Association, vol. 35(4), pages 2006-2039, December.
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    13. Train, Kenneth & McFadden, Daniel & Johnson, Reed, 2000. "Discussion of Morey and Waldman's "Measurement Error in Recreation Demand Models"," Journal of Environmental Economics and Management, Elsevier, vol. 40(1), pages 76-81, July.
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    18. W. Douglass Shaw & Peter Feather, 1999. "Possibilities for Including the Opportunity Cost of Time in Recreation Demand Systems," Land Economics, University of Wisconsin Press, vol. 75(4), pages 592-602.
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