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Validation of empirical measures of welfare change: comment

Author

Listed:
  • Boyle, Kevin J.
  • Welsh, Michael P.
  • Bishop, Richard C.

Abstract

In an excellent article from a recent issue of this journal, Sellar, Stoll and Chavas (1985) make a technical error which causes them to misstate their closed-ended estimates of willingness to pay. Truncation of the estimated cummulative distribution function must we made explicit in compution of willingness to pay.

Suggested Citation

  • Boyle, Kevin J. & Welsh, Michael P. & Bishop, Richard C., 1988. "Validation of empirical measures of welfare change: comment," MPRA Paper 31237, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:31237
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    More about this item

    Keywords

    nonmarket valuation; contingent valuation; stated preferences; welfare evaluation; willingness to pay;
    All these keywords.

    JEL classification:

    • H4 - Public Economics - - Publicly Provided Goods
    • C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General
    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects

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