This study applies an information theoretic econometric approach in the form of a new maximum likelihood-minimum power divergence (ML-MPD) semi-parametric binary response estimator to analyze dichotomous contingent valuation data. The ML-MPD method estimates the underlying behavioral decision...

Since people care about each other, an individual's willingness to pay to protect an environmental good or service will reflect their concern for others who would also be impacted by a change in the good or service. Through the extended social network, an individual's willingness to pay will...

Policy models such as Input-Output (IO) or Computable General Equilibrium (CGE) are deterministic, with exogenous final demand shocks producing point estimates of local impacts. Confidence intervals around these point estimates, while desirable, are not readily available. Using the causal...

Although golf is a popular activity and significant industry, there is little known about the price elasticity of demand for golf, nor the benefits received by the golfers themselves. Using a survey of Colorado golfers at 19 golf courses and a relatively novel hybrid individual observation and...