Choice experiments have become a widespread approach to non-market environmental valuation. Given the vast range of public opinions towards environmental management changes, it is desirable that analysis of discrete choice data accounts for the possibility of unobserved heterogeneity amongst the...

Paper presented at the 59th Conference of the Australian Agricultural and Resource Economics Society (AARES), Rotorua, 10-13 February 2015

Comparisons between the return to wine and standard financial assets are complicated in that the return to wine must be estimated from infrequent sales of heterogeneous wine brands. Wine returns can be estimated using several different approaches, and here the performance of the hedonic...

This paper has been published in a peer-reviewed journal as: Kragt, M.E., Robson, B.J. & Macleod, C.J.A. (2013) Modellers’ roles in structuring integrative research projects. Environmental Modelling & Software, 39(1): 322-330. DOI: 10.1016/j.envsoft.2012.06.015

We argue that previous assessments of discriminatory-price conservation auctions may have systematically overestimated their performance relative to uniform-payment schemes due to an inappropriate counterfactual comparison. We demonstrate that the cost curve (and not the bid curve) is the...

Observed and unobserved characteristics of an individual are often used by researchers to explain choices over the provision of environmental goods. One means for identifying what is typically an unobserved characteristic, such as an attitude, is through some data reduction technique, such as...

Results of choice experiment studies are widely claimed to provide valuable inputs into more efficient environmental policy development. The implicit price estimates for the attributes included in the choice experiment give policy makers an indication of the non-market values of environmental...

This article integrates fuzzy set theory in Data Envelopment Analysis (DEA) framework to compute technical efficiency scores when input and output data are imprecise. The underlying assumption in convectional DEA is that inputs and outputs data are measured with precision. However, production...