Unpublished
Anders Karlstrom, Edward R. Morey
2004
2004
Semantic Scholar
DOI
Cite
Cite
APA
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Karlstrom, A., & Morey, E. R. (2004). Calculating the Exact Compensating Variation in Logit and Nested-Logit Models with Income Effects: Theory, Intuition, Implementation, and Application.
Chicago/Turabian
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Karlstrom, Anders, and Edward R. Morey. “Calculating the Exact Compensating Variation in Logit and Nested-Logit Models with Income Effects: Theory, Intuition, Implementation, and Application,” 2004.
MLA
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Karlstrom, Anders, and Edward R. Morey. Calculating the Exact Compensating Variation in Logit and Nested-Logit Models with Income Effects: Theory, Intuition, Implementation, and Application. 2004.
BibTeX Click to copy
@unpublished{anders2004a,
title = {Calculating the Exact Compensating Variation in Logit and Nested-Logit Models with Income Effects: Theory, Intuition, Implementation, and Application},
year = {2004},
author = {Karlstrom, Anders and Morey, Edward R.}
}
Abstract
An exact formula for the expected compensating variation is derived for logit and nested-logit models with income effects. Intuition, examples, and an application are provided. The appendix contains a formal proof. The formula is applied to estimate the E[cv]s salmon anglers in Maine would associate with changes in catch rates at Maine and Canadian Rivers.
