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

  • von Haefen, Roger H.

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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File URL: http://www.sciencedirect.com/science/article/pii/S0095-0696(02)00047-5
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Article provided by Elsevier in its journal Journal of Environmental Economics and Management.

Volume (Year): 45 (2003)
Issue (Month): 2 (March)
Pages: 145-165

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Handle: RePEc:eee:jeeman:v:45:y:2003:i:2:p:145-165
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622870

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  1. 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.
  2. 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.
  3. Hausman, Jerry A & Wise, David A, 1978. "A Conditional Probit Model for Qualitative Choice: Discrete Decisions Recognizing Interdependence and Heterogeneous Preferences," Econometrica, Econometric Society, vol. 46(2), pages 403-26, March.
  4. Neeraj Arora & Greg M. Allenby & James L. Ginter, 1998. "A Hierarchical Bayes Model of Primary and Secondary Demand," Marketing Science, INFORMS, vol. 17(1), pages 29-44.
  5. Bhat, Chandra R., 2001. "Quasi-random maximum simulated likelihood estimation of the mixed multinomial logit model," Transportation Research Part B: Methodological, Elsevier, vol. 35(7), pages 677-693, August.
  6. V. Kerry Smith, 1990. "Estimating Recreation Demand Using the Properties of the Implied Consumer Surplus," Land Economics, University of Wisconsin Press, vol. 66(2), pages 111-120.
  7. Joel Huber and Kenneth Train., 2000. "On the Similarity of Classical and Bayesian Estimates of Individual Mean Partworths," Economics Working Papers E00-289, University of California at Berkeley.
  8. Chiang, J. & Lee, L-F., 1990. "Discrete/Continuous Models of Consumer Demand with Binding Non-Negativity Constraints," Papers 261, Minnesota - Center for Economic Research.
  9. Krinsky, Itzhak & Robb, A Leslie, 1986. "On Approximating the Statistical Properties of Elasticities," The Review of Economics and Statistics, MIT Press, vol. 68(4), pages 715-19, November.
  10. Harvey S. Rosen & Kenneth A. Small, 1979. "Applied Welfare Economics with Discrete Choice Models," NBER Working Papers 0319, National Bureau of Economic Research, Inc.
  11. 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.
  12. George R. Parsons & GAndrew J. Plantinga & GKevin J. Boyle, 2000. "Narrow Choice Sets in a Random Utility Model of Recreation Demand," Land Economics, University of Wisconsin Press, vol. 76(1), pages 86-99.
  13. Steven Stern, 1997. "Simulation-Based Estimation," Journal of Economic Literature, American Economic Association, vol. 35(4), pages 2006-2039, December.
  14. Hanemann, W. Michael, 1981. "Applied Welfare Analysis with Quantal Choice Models," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt7fm8k59w, Department of Agricultural & Resource Economics, UC Berkeley.
  15. Kenneth E. McConnell & Ivar Strand, 1981. "Measuring the Cost of Time in Recreation Demand Analysis: An Application to Sportfishing," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 63(1), pages 153-156.
  16. Nancy E. Bockstael & Ivar E. Strand, Jr., 1987. "The Effect of Common Sources of Regression Error on Benefit Estimates," Land Economics, University of Wisconsin Press, vol. 63(1), pages 11-20.
  17. V. Kerry Smith & William H. Desvousges & Matthew P. McGivney, 1983. "The Opportunity Cost of Travel Time in Recreation Demand Models," Land Economics, University of Wisconsin Press, vol. 59(3), pages 259-278.
  18. Daniel McFadden & Kenneth Train, 2000. "Mixed MNL models for discrete response," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 15(5), pages 447-470.
  19. Krinsky, Itzhak & Robb, A Leslie, 1990. "On Approximating the Statistical Properties of Elasticities: A Correction," The Review of Economics and Statistics, MIT Press, vol. 72(1), pages 189-90, February.
  20. Edward R. Morey & Robert D. Rowe & Michael Watson, 1993. "A Repeated Nested-Logit Model of Atlantic Salmon Fishing," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 75(3), pages 578-592.
  21. Kenneth E. Train, 1998. "Recreation Demand Models with Taste Differences over People," Land Economics, University of Wisconsin Press, vol. 74(2), pages 230-239.
  22. Frank J. Cesario, 1976. "Value of Time in Recreation Benefit Studies," Land Economics, University of Wisconsin Press, vol. 52(1), pages 32-41.
  23. George R. Parsons & Mary Jo Kealy, 1992. "Randomly Drawn Opportunity Sets in a Random Utility Model of Lake Recreation," Land Economics, University of Wisconsin Press, vol. 68(1), pages 93-106.
  24. Cardell, N. Scott, 1997. "Variance Components Structures for the Extreme-Value and Logistic Distributions with Application to Models of Heterogeneity," Econometric Theory, Cambridge University Press, vol. 13(02), pages 185-213, April.
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