Publication | Closed Access
Validation of Empirical Measures of Welfare Change: Comment
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References
1988
Year
Behavioral Decision MakingPublic WelfareTechnical ErrorRevealed PreferenceCummulative Distribution FunctionWelfare CriterionChoice ModelManagementExperimental EconomicsEconomic AnalysisHuman WelfareDecision TheoryStatisticsConsumer ChoiceEconomicsPublic PolicyWelfare ChangeFinanceBehavioral EconomicsClosed-ended EstimatesWelfare PolicyBusinessSocial PolicyDecision ScienceEconomics And ComputationMicroeconomics
In an excellent article from a recent issue of this journal, Sellar, Stoll and Chavas (1985) make a technical error which causes them to misstate their closed-ended estimates of willingness to pay. Truncation of the estimated cummulative distribution function must we made explicit in compution of willingness to pay.
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