Calculating the Exact Compensating Variation in Logit and Nested-Logit Models with Income Effects : Theory, Intuition, Implementation, and Application

An exact formula for the expected compensating variation is derived for logit and nested-logit models with income effects. Intuition, examples, and an application are provided. The appendix contains a formal proof. The formula is applied to estimate the E[cv]s salmon anglers in Maine would associate with changes in catch rates at Maine and Canadian Rivers

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Year of publication:	2004
Authors:	Karlstrom, Anders ; Morey, Edward R.
Publisher:	[S.l.] : SSRN
Subject:	Logit-Modell \| Logit model \| Einkommenseffekt \| Income effect \| Schätztheorie \| Estimation theory

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