Validation of empirical measures of welfare change: comment

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.

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Year of publication:	1988
Authors:	Boyle, Kevin J. ; Welsh, Michael P. ; Bishop, Richard C.
Institutions:	Volkswirtschaftliche Fakultät, Ludwig-Maximilians-Universität München
Subject:	nonmarket valuation \| contingent valuation \| stated preferences \| welfare evaluation \| willingness to pay

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Extent:	application/pdf
Series:	MPRA Paper.
Type of publication:	Book / Working Paper
Notes:	Published in Land Economics 1.64(1988): pp. 94-98
Classification:	H4 - Publicly Provided Goods ; C13 - Estimation ; D61 - Allocative Efficiency; Cost-Benefit Analysis ; Q51 - Valuation of Environmental Effects
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10009644160