Some results on the variance of welfare estimates from recreation demand models.
Some general results concerning the likely size of variance or standard error estimates of consumer surplus are demonstrated. With regard to the variances of consumer welfare measures, it is shown that the size of variance estimates depends on the assumed source of error, the precision of welfare e...
| Publicado en: | Land Economics Vol. 68; pp. 318 - 329 |
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| Autor principal: | |
| Formato: | Artículo |
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University of Wisconsin Press
August 1992
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| Acceso en línea: | Ver este registro en EBSCOhost |
| Sumario: | Some general results concerning the likely size of variance or standard error estimates of consumer surplus are demonstrated. With regard to the variances of consumer welfare measures, it is shown that the size of variance estimates depends on the assumed source of error, the precision of welfare estimates as measured by the coefficient of variation generally falls within an increase in the size of the welfare change, and the difference between Marshallian and Hicksian welfare measures depends on the assumed source of error and may be small relative to the standard error. The results are demonstrated analytically using the linear or semilog demand function, and a simple simulation experiment illustrates the possible magnitude of the points. |
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