Titlebook: Environmental and Resource Valuation with Revealed Preferences; A Theoretical Guide Nancy E. Bockstael,Kenneth E. McConnell Book 2007 Spri

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Setting the Stage,ted the concept of measuring damages for injury to public resources by the amount of compensation individuals in society would need in order to restore their well-being. This acceptance, characteristic of both the Exxon Valdez oil spill and other important but less spectacular cases, implicitly rati

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Environmental and Resource Valuation with Revealed PreferencesA Theoretical Guide

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Setting the Stage,iam Sound and subsequently induced a torrent of valuation studies on the economic damages of the spill. The potential magnitude of Exxon’s liability unleashed a conflict between oil companies and resource trustees over measurement of these damages that has had a lasting influence on environmental va

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Implementing Weak Complementarity,cally changes in environmental quality, requires imposing some added restrictions on the individual’s decision problem. The most commonly employed restriction is weak complementarity. In this chapter we deal with an array of conceptual and empirical problems that arise in making the weak complementa

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Measuring Welfare in Discrete Choice Models,the surface, the neoclassical model of preferences and demand appears ill-suited to analyzing such discrete choices or to providing a framework for welfare analysis. Nevertheless, there is a well developed and useful literature on econometrics and welfare measurement in this choice setting. The hear