INCREASING AT AN INCREASING RATE: THE POTENTIAL CONVEXITY OF DISCRETE-CHOICE WELFARE MEASURES

Frank Lupi

No 20970, 1998 Annual meeting, August 2-5, Salt Lake City, UT from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)

Abstract: When environmental quality enters random utility models linearly, welfare measures are convex in quality. The convexity is partly due to site substitution, and it has policy implications for whether changes in quality should be concentrated or diffuse. These functional form effects are illustrated in a model of Great Lakes fishing.

Keywords: Environmental; Economics; and; Policy (search for similar items in EconPapers)
Pages: 15
Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aaea98:20970

DOI: 10.22004/ag.econ.20970

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