A Note on Estimating Nested Constant Elasticity of Substitution Preferences for Outdoor Recreation
Roger von Haefen and
American Journal of Agricultural Economics, 2003, vol. 85, issue 2, 406-413
A generalized version of a well-known statistical result is used to suggest an alternative strategy for estimating nested constant elasticity of substitution preferences for recreation demand. Parameter and welfare estimates from nested constant elasticity of substitution count data demand system models are presented and compared to estimates from the multinomial approaches developed previously. A significant advantage of the count data estimation strategy over the multinomial-based approaches is that the analyst avoids the difficulties associated with choice occasion specification and interpretation. Copyright 2003, Oxford University Press.
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Persistent link: https://EconPapers.repec.org/RePEc:oup:ajagec:v:85:y:2003:i:2:p:406-413
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