1989•RePEc: Research Papers in EconomicsOpen access
Confidence intervals for welfare estimators form recreation demand models
Catherine L. Kling, Richard J. Sexton, Kling, Catherine L., Sexton, Richard J.
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Abstract
This paper analyzes the use of bootstrap methods to discern the statistical precision of consumer welfare estimates from recreation demand models. Results suggest that a great deal of imprecision is present in estimates from typical cross-section data. Precision can be improved through imposition of inequality constraints on the demand function parameters.
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