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Confidence Intervals for Welfare Measures with Application to a Problem of Truncated Counts

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  • Creel, Michael D
  • Loomis, John B

Abstract

Demand for deer hunting trips was estimated using statistical models based on the normal, Poisson, and negative binomial probability laws. Some of the models accounted for existing sampling truncation. Estimates of Marshallian and Hicksian welfare measures are presented, accompanied by 90 percent confidence intervals based on Krinsky and Robb's procedure. For each of the statistical models, the Hicksian measures are found to be very close to the Marshallian measures, with similar confidence intervals. Accounting for the truncation of the dependent variable has a statistically significant effect on the resulting estimates of welfare measures. Copyright 1991 by MIT Press.

Suggested Citation

  • Creel, Michael D & Loomis, John B, 1991. "Confidence Intervals for Welfare Measures with Application to a Problem of Truncated Counts," The Review of Economics and Statistics, MIT Press, vol. 73(2), pages 370-373, May.
    • Handle: RePEc:tpr:restat:v:73:y:1991:i:2:p:370-73
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    1. Loomis, John B. & Yorizane, Shizuka & Larson, Douglas M., 2000. "Testing Significance Of Multi-Destination And Multi-Purpose Trip Effects In A Travel Cost Method Demand Model For Whale Watching Trips," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 29(2), pages 1-9, October.
    2. Bowker, James Michael & Starbuck, C. Meghan & English, Donald B.K. & Bergstrom, John C. & Rosenberger, Randall S. & McCollum, Daniel W., 2009. "Estimating the Net Economic Value of National Forest Recreation: An Application of the National Visitor Use Monitoring Database," Faculty Series 59603, University of Georgia, Department of Agricultural and Applied Economics.
    3. Loomis, John B. & Rosenberger, Randall S., 2006. "Reducing barriers in future benefit transfers: Needed improvements in primary study design and reporting," Ecological Economics, Elsevier, vol. 60(2), pages 343-350, December.
    4. Chin†Huang Huang, 2017. "Estimating the environmental effects and recreational benefits of cultivated flower land for environmental quality improvement in Taiwan," Agricultural Economics, International Association of Agricultural Economists, vol. 48(1), pages 29-39, January.
    5. Ovaskainen, Ville & Neuvonen, Marjo & Pouta, Eija, 2012. "Modelling recreation demand with respondent-reported driving cost and stated cost of travel time: A Finnish case," Journal of Forest Economics, Elsevier, vol. 18(4), pages 303-317.
    6. Tanvir Pavel & Pallab Mozumder, 2019. "Household Preferences for Managing Coastal Vulnerability: State vs. Federal Adaptation Fund," Economics of Disasters and Climate Change, Springer, vol. 3(3), pages 281-304, October.
    7. John Loomis & Catherine Keske, 2009. "The Economic Value of Novel Means of Ascending High Mountain Peaks: A Travel Cost Demand Model of Pikes Peak Cog Railway Riders, Automobile Users and Hikers," Tourism Economics, , vol. 15(2), pages 426-436, June.
    8. O. Ashton Morgan & D. Matthew Massey & William L. Huth, 2009. "Demand for Diving on Large Ship Artificial Reefs," Working Papers 09-09, Department of Economics, Appalachian State University.
    9. Serge Garcia & Julien Jacob, 2010. "La valeur récréative de la forêt en France : une approche par les coûts de déplacement," Review of Agricultural and Environmental Studies - Revue d'Etudes en Agriculture et Environnement, INRA Department of Economics, vol. 91(1), pages 43-71.
    10. Prayaga, Prabha, 2017. "Estimating the value of beach recreation for locals in the Great Barrier Reef Marine Park, Australia," Economic Analysis and Policy, Elsevier, vol. 53(C), pages 9-18.
    11. O. Ashton Morgan & Gregory S. Martin & William L. Huth, 2009. "Oyster Demand Adjustments to Counter-Information and Source Treatments in Response to Vibrio vulnificus," Working Papers 09-08, Department of Economics, Appalachian State University.
    12. Catherine M. H. Keske & Adam Mayer, 2014. "Visitor Willingness to Pay U.S. Forest Service Recreation Fees in New West Rural Mountain Economies," Economic Development Quarterly, , vol. 28(1), pages 87-100, February.
    13. Catherine M.H. Keske & Greta Lohman & John B. Loomis, 2013. "Do Respondents Report Willingness-to-Pay on a per Person or per Group Basis? A High Mountain Recreation Example," Tourism Economics, , vol. 19(1), pages 133-145, February.
    14. Isabel Proenca & Isabel Menes, 2000. "Measuring the Average Per Day Net Benefit of Non-consumptive Wildlife - Associated Recreation For a National Park: a Count-Data Travel Cost Approach," Regional and Urban Modeling 283600078, EcoMod.
    15. Isabel Mendes & Isabel Proença, 2009. "Measuring the Social Recreation Per-Day Net Benefit of Wildlife Amenities of a National Park: A Count-Data Travel Cost Approach," Working Papers Department of Economics 2009/35, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
    16. Chotikapanich, Duangkamon & Griffiths, William E., 1998. "Carnarvon Gorge: a comment on the sensitivity of consumer surplus estimation," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 42(3), pages 1-13.
    17. English, Donald B.K., 2000. "A Simple Procedure for Generating Confidence Intervals in Tourist Spending Profiles and Resulting Economic Impacts," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 30(1), pages 1-16.
    18. Ajzenman, Nicolás & Balza, Lenin & Bejarano, Hernan & De Los Rios, Camilo & Gómez Parra, Nicolás, 2023. "Seemingly irrelevant factors and willingness to block polluting investments," IDB Publications (Working Papers) 13325, Inter-American Development Bank.
    19. Uttam Khanal & Clevo Wilson & Shunsuke Managi & Boon Lee & Viet-Ngu Hoang & Robert Gifford, 2018. "Psychological influence on survey incentives: valuing climate change adaptation benefits in agriculture," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 20(2), pages 305-324, April.
    20. Ram Shrestha & John Loomis, 2003. "Meta-Analytic Benefit Transfer of Outdoor Recreation Economic Values: Testing Out-of-Sample Convergent Validity," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 25(1), pages 79-100, May.
    21. Arwin Pang, 2022. "Investigating heteroscedasticity using the over-dispersion parameter in a travel cost model," Letters in Spatial and Resource Sciences, Springer, vol. 15(3), pages 507-516, December.
    22. Roberto Martinez-Espineira & Joe Amoako-Tuffour, 2005. "Recreation Demand Analysis under Truncation, Overdispersion, and Endogenous Stratification: An Application to Gros Morne National Park," Econometrics 0511007, University Library of Munich, Germany.

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