The present paper demonstrates that treating multidestination trips (MDT) as single‐destination trips does not involve any systematic upward or downward bias in consumer surplus (CS) estimates because the direct negative effect of a price increase (treating MDT as a single‐destination trip)...

Environmental cost-benefit analysis (ECBA) refers to social evaluation of investment projects and policies that involve significant environmental impacts. Valuation of the environmental impacts in monetary terms forms one of the critical steps in ECBA. We propose a new approach for environmental...

The literature of productive efficiency analysis is divided into two main branches: the parametric Stochastic Frontier Analysis (SFA) and nonparametric Data Envelopment Analysis (DEA). This paper attempts to combine the virtues of both approaches in a unified framework. We follow the SFA...

Under the U.S. Department of Commerce’s ‘changed circumstances’ review, it is possible that the countervail duty on Canadian lumber can be lowered if administered stumpage prices are based on transaction evidence appraisal – on actual auction data and regression analysis. The Province of...

International trade in ivory is banned in order to protect the African elephant. The trade ban is supported by some range states, because it is seen as an effective means for protecting a 'flagship' species, but is opposed by states, mainly in southern Africa, because populations exceed the...