In this paper we provide an analysis of tax reforms along the lines of the multimarket welfare measurement techniques suggested by Just, Hueth, and Schmitz. A key purpose of our analysis is to shed light on the approximating features of partial equilibrium models. We derive a result on the...

Spike models allow for a nonzero probability of zero willingness to pay in referendum-style contingent valuation experiments. They include many of the often used models as special cases and allow various analyses that are not possible in standard applications. In this paper, the economic...