Calculating Marginal and Non-marginal Welfare Measures

Petr Mariel, David Hoyos, Jürgen Meyerhoff, Mikolaj Czajkowski, Thijs Dekker (), Klaus Glenk, Jette Bredahl Jacobsen (), Ulf Liebe (), Søren Olsen, Julian Sagebiel () and Mara Thiene ()
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Thijs Dekker: University of Leeds
Jette Bredahl Jacobsen: University of Copenhagen
Ulf Liebe: University of Warwick
Julian Sagebiel: Swedish University of Agricultural Sciences
Mara Thiene: University of Padua

Chapter Chapter 7 in Environmental Valuation with Discrete Choice Experiments, 2021, pp 103-110 from Springer

Abstract: Abstract This chapter focuses on the calculation of marginal and non-marginal welfare measures. It outlines how the calculation of welfare measures is related to the specified model and the assumptions underlying that model. It further describes how the calculation of these measures is affected by the inclusion of preference heterogeneity, including the incorporation of interaction terms to capture observed preference heterogeneity or random parameters to capture unobserved preference heterogeneity. Finally, it discusses how these measures can be aggregated and compared.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:spbchp:978-3-030-62669-3_7

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DOI: 10.1007/978-3-030-62669-3_7

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