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Incorporating Observed Choice In The Construction Of Welfare Measures From Random Utility Models

Listed author(s):
  • 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://purl.umn.edu/21836
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Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2000 Annual meeting, July 30-August 2, Tampa, FL with number 21836.

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Date of creation: 2000
Handle: RePEc:ags:aaea00:21836
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  1. 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.
  2. Kenneth E. Train, 1998. "Recreation Demand Models with Taste Differences over People," Land Economics, University of Wisconsin Press, vol. 74(2), pages 230-239.
  3. Joel Huber & Kenneth Train, 2001. "On the Similarity of Classical and Bayesian Estimates of Individual Mean Partworths," Econometrics 0012003, EconWPA.
  4. 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.
  5. 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.
  6. Harvey S. Rosen & Kenneth A. Small, 1979. "Applied Welfare Economics with Discrete Choice Models," NBER Working Papers 0319, National Bureau of Economic Research, Inc.
  7. J. A. Hausman & D. A. Wise, 1976. "A Conditional Profit Model for Qualitative Choice: Discrete Decisions Recognizing Interdependence and Heterogeneous Preferences," Working papers 173, Massachusetts Institute of Technology (MIT), Department of Economics.
  8. 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.
  9. 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.
  10. Chiang, J. & Lee, L-F., 1990. "Discrete/Continuous Models of Consumer Demand with Binding Non-Negativity Constraints," Papers 261, Minnesota - Center for Economic Research.
  11. 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.
  12. 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.
  13. 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.
  14. 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.
  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. 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.
  17. 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.
  18. 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 715-719, November.
  19. 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.
  20. Kling, Catherine L. & Bockstael, Nancy & Michael, W., 1999. "Estimating the Value of Water Quality Improvements in a Recreational Demand Framework," Staff General Research Papers Archive 12334, Iowa State University, Department of Economics.
  21. 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 189-190, February.
  22. Steven Stern, 1997. "Simulation-Based Estimation," Journal of Economic Literature, American Economic Association, vol. 35(4), pages 2006-2039, December.
  23. Frank J. Cesario, 1976. "Value of Time in Recreation Benefit Studies," Land Economics, University of Wisconsin Press, vol. 52(1), pages 32-41.
  24. 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.
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