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BLS Working Paper: Incorporating Observed Choice into the Construction of Welfare Measures from Random Utility Models

BLS Working Paper: Incorporating Observed Choice into the Construction of Welfare Measures from Random Utility Models( )
Author: Von Haefen, Roger
ISBN:978-1-4912-5789-0
Publication Date:Aug 2013
Publisher:CreateSpace Independent Publishing Platform
Book Format:Paperback
List Price:USD $16.99
Book Description:

This paper develops an approach to welfare measurement from random utility models (RUMs) that conditions on an individual's observed choice. The economic and statistical properties of the proposed conditional approach to welfare measurement are compared with the unconditional approaches developed by Small and Rosen [35] and Hanemann [16], and a subsample of the 1994 National Survey of Recreation and the Environment (NSRE) is used to illustrate its empirical implications. Conditional...
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Book Details
Pages:36
Physical Dimensions (W X L X H):8.5 x 11 x 0.09 Inches
Book Weight:0.32 Pounds

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