On Measuring the Value of a Nonmarket Good Using Market Data
We use line integral theory to lay out in a more general theoretical framework the conditions under which it is possible to measure with market data the welfare effects of a change in a nonmarket good. We present in detail a numerical method of measuring the value of nonmarket goods using market dat...
| Autores principales: | , |
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| Formato: | Journal Article |
| Lenguaje: | Inglés |
| Publicado: |
Wiley
2006
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| Materias: | |
| Acceso en línea: | https://hdl.handle.net/10568/172189 |
| _version_ | 1855533118739447808 |
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| author | Bullock, David S. Minot, Nicholas |
| author_browse | Bullock, David S. Minot, Nicholas |
| author_facet | Bullock, David S. Minot, Nicholas |
| author_sort | Bullock, David S. |
| collection | Repository of Agricultural Research Outputs (CGSpace) |
| description | We use line integral theory to lay out in a more general theoretical framework the conditions under which it is possible to measure with market data the welfare effects of a change in a nonmarket good. We present in detail a numerical method of measuring the value of nonmarket goods using market data, under either weak neutrality or weak complementarity. Our numerical method is more flexible than the existing analytical method because it can be used with any well-behaved Marshallian demand function, and can be used even when the willig condition does not hold. |
| format | Journal Article |
| id | CGSpace172189 |
| institution | CGIAR Consortium |
| language | Inglés |
| publishDate | 2006 |
| publishDateRange | 2006 |
| publishDateSort | 2006 |
| publisher | Wiley |
| publisherStr | Wiley |
| record_format | dspace |
| spelling | CGSpace1721892025-01-29T12:59:31Z On Measuring the Value of a Nonmarket Good Using Market Data Bullock, David S. Minot, Nicholas environmental factors valuation We use line integral theory to lay out in a more general theoretical framework the conditions under which it is possible to measure with market data the welfare effects of a change in a nonmarket good. We present in detail a numerical method of measuring the value of nonmarket goods using market data, under either weak neutrality or weak complementarity. Our numerical method is more flexible than the existing analytical method because it can be used with any well-behaved Marshallian demand function, and can be used even when the willig condition does not hold. 2006-11 2025-01-29T12:59:31Z 2025-01-29T12:59:31Z Journal Article https://hdl.handle.net/10568/172189 en Limited Access Wiley Bullock, David S.; Minot, Nicholas. 2006. Valuing nonmarket goods using market data. American Journal of Agricultural Economics 88(4): 961-973. https://doi.org/10.1111/j.1467-8276.2006.00909.x |
| spellingShingle | environmental factors valuation Bullock, David S. Minot, Nicholas On Measuring the Value of a Nonmarket Good Using Market Data |
| title | On Measuring the Value of a Nonmarket Good Using Market Data |
| title_full | On Measuring the Value of a Nonmarket Good Using Market Data |
| title_fullStr | On Measuring the Value of a Nonmarket Good Using Market Data |
| title_full_unstemmed | On Measuring the Value of a Nonmarket Good Using Market Data |
| title_short | On Measuring the Value of a Nonmarket Good Using Market Data |
| title_sort | on measuring the value of a nonmarket good using market data |
| topic | environmental factors valuation |
| url | https://hdl.handle.net/10568/172189 |
| work_keys_str_mv | AT bullockdavids onmeasuringthevalueofanonmarketgoodusingmarketdata AT minotnicholas onmeasuringthevalueofanonmarketgoodusingmarketdata |