Welfare economics is often employed to measure the impact of economic policies or externalities. When demand is characterized by discrete choices, static models of consumer demand are employed for this type of analysis because of the difficulty in estimating dynamic discrete choice models. In...

This paper adopts an approach based on the concepts of random utility maximization and builds on the general theoretical framework of Lancaster and on the conceptual and econometric innovations of McFadden. Recent research in this area explores models that account for context effects, as well as...

A revealed preference auction experiment is used to elicit values for two attributes, one relating to genetic modification and the other to country of origin of the food product, canola oil. A premium for a non-GM canola oil is found to approximate CA$0.4 to $0.6 per litre. Auction format...

Current non-market valuation techniques have been developed based on assumptions about values held within the Eurocentred culture. Contentions between cultures over natural resources are hypothesized to occur because of differences in held values resulting in different values being assigned to...

Data used in recreation demand modeling are characterized by the facts that trip frequencies are non-negative integers and that consumers are often faced with alternative destinations. This paper considers these features by estimating a multivariate recreation demand model that accounts for trip...