The paper considers the estimation of welfare measures when the functional form of demand is unknown. An adaptation of an argument of Gallant (1987) is used to show that welfare estimators based on a Fourier functional form for demand will be consistent under weak assumptions. Simulation...

We develop novel methods for estimation and filtering of continuous-time models with stochastic volatility and jumps using so-called Approximate Bayesian Computation which build likelihoods based on limited information. The proposed estimators and filters are computationally attractive relative...

Widely-used estimators such as the generalized method of moments (GMM) and quasi-maximum likelihood (QML) are not efficient in general. This study shows how the Hausman specification test may easily be corrected to be used with inefficient estimators. It introduces a related test that has better...

I evaluate the potential usefulness of nonmarket valuation concepts and techniques from environmental economics for improving wildlife conservation. The concepts include distinguishing between on-site recreation use value and off-site passive use or ...