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| Author: | Crooker, J. Kling, C. |
| Title: | Nonparametric bounds on welfare measures: a new tool for nonmarket valuation |
| Journal: | Journal of Environmental Economics and Management
2000 : MAR, VOL. 39:2, p. 145-161 |
| Index terms: | WELFARE MEASUREMENT VALUATION |
| Language: | eng |
| Abstract: | In this research, the authors adapt and extend previous work on nonparametric bounds for welfare measures. The authors present a procedure for estimating upper and lower bounds on each consumer's individual willingness to pay for an environmental improvement. The exciting aspect of this work is that these bounds are derived using only observed quantities and prices of visits to a recreation area without resorting to any parametric assumptions on demand or utility. |
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