A semi-parametric discrete choice method is proposed to recover welfare measures from individual choice data. The proposed method is compared with the traditional binary choice models in an application to measure benefits of recreation trips.

The purpose of this research is to use measures of willingness to pay derived from random utility models as the basis for evaluating the properties of parametric and nonparametric estimators with binary choice data. Monte Carlo simulation results indicate that simple parametric methods...

This paper describes production analogs to the conditions used in consumer theory to recover measures of willingness to pay for non-marketed environmental resources. The analysis suggests that both weak complementarity and Hicksian neutrality have production analogs. Moreover, it indicates that...

A general analytical model to describe the impact of environmental disamenities on duration of sales is derived. A statistical technique to recover a seller's reservation price is proposed. An econometric procedure that consistently estimates market duration and a seller's reservation price is...

Decisions about residential lot size and square footage are influenced by a variety of determinants ranging from zoning regulations to neighborhood characteristics. Our theoretical analysis suggests that the property tax rate could also affect residential lot sizes and the sizes of newly...

We present a structural model and employ discrete time survival analysis to examine the impact of weather conditions on firms' exit decisions within the New England ski industry. Our results suggest that weather conditions can have significant direct and indirect effects on the closure of ski...