Estimating Ricardian Models With Panel Data

Many nonmarket valuation models, such as the Ricardian model, have been estimated using cross sectional methods with a single year of data. Although multiple years of data should increase the robustness of such methods, repeated cross sections suggest the results are not stable. We argue that repeated cross sections do not properly specify the model. Panel methods that correctly specify the Ricardian model are stable over time. The results suggest that many cross sectional methods including hedonic studies and travel cost studies could be enhanced using panel data.


Issue Date:
2011-06
Publication Type:
Working or Discussion Paper
Record Identifier:
http://ageconsearch.umn.edu/record/115727
PURL Identifier:
http://purl.umn.edu/115727
Total Pages:
33
JEL Codes:
Q1; Q12; Q51; Q54
Series Statement:
CCSD
50.2011




 Record created 2017-04-01, last modified 2018-01-22

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