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A Note on Estimating Nested Constant Elasticity of Substitution Preferences for Outdoor Recreation

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  • Roger H. von Haefen
  • Daniel J. Phaneuf

Abstract

A generalized version of a well-known statistical result is used to suggest an alternative strategy for estimating nested constant elasticity of substitution preferences for recreation demand. Parameter and welfare estimates from nested constant elasticity of substitution count data demand system models are presented and compared to estimates from the multinomial approaches developed previously. A significant advantage of the count data estimation strategy over the multinomial-based approaches is that the analyst avoids the difficulties associated with choice occasion specification and interpretation. Copyright 2003, Oxford University Press.

Suggested Citation

  • Roger H. von Haefen & Daniel J. Phaneuf, 2003. "A Note on Estimating Nested Constant Elasticity of Substitution Preferences for Outdoor Recreation," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 85(2), pages 406-413.
  • Handle: RePEc:oup:ajagec:v:85:y:2003:i:2:p:406-413
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    File URL: http://hdl.handle.net/10.1111/1467-8276.00129
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    Cited by:

    1. Richards, Timothy J., 2004. "Price and Product-Line Rivalry Among Supermarket Retailers," Working Papers 28535, Arizona State University, Morrison School of Agribusiness and Resource Management.
    2. Phaneuf, Daniel J. & Smith, V. Kerry, 2006. "Recreation Demand Models," Handbook of Environmental Economics,in: K. G. Mäler & J. R. Vincent (ed.), Handbook of Environmental Economics, edition 1, volume 2, chapter 15, pages 671-761 Elsevier.
    3. Baerenklau, Kenneth A. & González-Cabán, Armando & Paez, Catrina & Chavez, Edgar, 2010. "Spatial allocation of forest recreation value," Journal of Forest Economics, Elsevier, vol. 16(2), pages 113-126, April.

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