Journal Article

A Note on Estimating Nested Constant Elasticity of Substitution Preferences for Outdoor Recreation

Roger H. von Haefen and Daniel J. Phaneuf

in American Journal of Agricultural Economics

Published on behalf of Agricultural and Applied Economics Association

Volume 85, issue 2, pages 406-413
Published in print May 2003 | ISSN: 0002-9092
Published online May 2003 | e-ISSN: 1467-8276 | DOI: https://dx.doi.org/10.1111/1467-8276.00129
A Note on Estimating Nested Constant Elasticity of Substitution Preferences for Outdoor Recreation

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  • Household Behaviour and Family Economics
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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.

Keywords: demand system estimation; count data models; welfare measurement; D120; Q220; Q260

Journal Article.  4104 words.  Illustrated.

Subjects: Household Behaviour and Family Economics ; Renewable Resources and Conservation

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