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

8 Pages Posted: 31 Mar 2020

See all articles by Roger H. von Haefen

Roger H. von Haefen

North Carolina State University - Department of Agricultural & Resource Economics

Daniel J. Phaneuf

North Carolina State University - Department of Agricultural & Resource Economics

Date Written: May 2003

Abstract

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

Suggested Citation

von Haefen, Roger H. and Phaneuf, Daniel J., A Note on Estimating Nested Constant Elasticity of Substitution Preferences for Outdoor Recreation (May 2003). American Journal of Agricultural Economics, Vol. 85, Issue 2, pp. 406-413, 2003, Available at SSRN: https://ssrn.com/abstract=3564593 or http://dx.doi.org/10.1111/1467-8276.00129

Roger H. Von Haefen (Contact Author)

North Carolina State University - Department of Agricultural & Resource Economics ( email )

Box 8109
3332 Nelson Hall
Raleigh, NC 27695-8109
United States
(919) 515-8946 (Phone)
(919) 515-1824 (Fax)

HOME PAGE: http://www.ag-econ.ncsu.edu/faculty/vonHaefen/vita.pdf

Daniel J. Phaneuf

North Carolina State University - Department of Agricultural & Resource Economics ( email )

Box 8109
3332 Nelson Hall
Raleigh, NC 27695-8109
United States

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