INCREASING AT AN INCREASING RATE: THE POTENTIAL CONVEXITY OF DISCRETE-CHOICE WELFARE MEASURES

When environmental quality enters random utility models linearly, welfare measures are convex in quality. The convexity is partly due to site substitution, and it has policy implications for whether changes in quality should be concentrated or diffuse. These functional form effects are illustrated in a model of Great Lakes fishing.


Issue Date:
1998
Publication Type:
Conference Paper/ Presentation
PURL Identifier:
http://purl.umn.edu/20970
Total Pages:
15
Series Statement:
Selected Paper




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

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