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Article
Nonparametric Bounds on Welfare Measures: A New Tool for Nonmarket Valuation
Journal of Environmental Economics and Management
  • John Crooker, Texas Tech University
  • Catherine Kling, Iowa State University
Document Type
Article
Publication Version
Submitted Manuscript
Publication Date
1-1-2000
DOI
10.1006/jeem.1999.1099
Abstract
In this research, we adapt and extend previous work on nonparametric bounds for welfare measures. We present a procedure for estimating upper and lower bounds on each consumer's individual willingness to pay for an environmental improvement. The exciting aspect of this work is that these bounds are derived using only observed quantities and prices of visits to a recreation area without resorting to any parametric assumptions on demand or utility. In Monte Carlo simulations, we find that the bounds have the potential to be narrow enough for policy purposes.
Comments

This is a working paper of an article from Journal of Environmental Economics and Management 39 (2000): 145, doi:10.1006/jeem.1999.1099.

Citation Information
John Crooker and Catherine Kling. "Nonparametric Bounds on Welfare Measures: A New Tool for Nonmarket Valuation" Journal of Environmental Economics and Management Vol. 39 Iss. 2 (2000) p. 145 - 161
Available at: http://works.bepress.com/catherine_kling/85/