Valuing Environmental Quality: Weak Complementarity with Sets of Goods

Nancy E. Bockstael and Catherine Kling

American Journal of Agricultural Economics, 1988, vol. 70, issue 3, 654-662

Abstract: In practice, it is frequently impossible to identify a single good which is a weak complement to an environmental amenity for which welfare measures are desired. However, a set of goods exhibiting this property sometimes exists, e.g., water-related recreational activities when the nonmarket good to be valued is water quality. A set of weak complements is defined and implications for welfare measurement presented. The proper welfare measure now involves evaluation of a line integral and simple additions of areas under demand curves will not always be correct. However, under certain econometric circumstances, approximate welfare measures can be obtained from estimated functions.

Date: 1988
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