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Meta-analysis in model implementation: choice sets and the valuation of air quality improvements

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  • H. Spencer Banzhaf

    (Department of Economics, Andrew Young School of Policy Studies, Georgia State University, Atlanta, Georgia, USA)

  • V. Kerry Smith

    (Department of Economics, Arizona State University, Tempe, Arizona, USA)

Abstract

This research illustrates how the methods developed for meta-analysis can serve to document and summarize voluminous information derived from repeated sensitivity analyses. Our application is to the sensitivity of welfare estimates derived from discrete choice models to assumptions about the choice set. These assumptions affect welfare estimates through both the estimated parameters of the model and, conditional on the parameters, the substitution among alternatives. In our specific application, the evaluation is in terms of estimated benefits of air quality improvements in Los Angeles based on discrete choices of neighborhood and housing. Copyright © 2007 John Wiley & Sons, Ltd.

Suggested Citation

  • H. Spencer Banzhaf & V. Kerry Smith, 2007. "Meta-analysis in model implementation: choice sets and the valuation of air quality improvements," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 22(6), pages 1013-1031.
  • Handle: RePEc:jae:japmet:v:22:y:2007:i:6:p:1013-1031
    DOI: 10.1002/jae.977
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    More about this item

    JEL classification:

    • C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Statistical Simulation Methods: General
    • Q25 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Water
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand

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