Some Results on the Variance of Welfare Estimates from Recreation Demand Models
研究了消费者福利估计方差的三个问题：误差来源影响方差大小、福利变化增大时估计精度下降、马歇尔与希克斯福利差异可能小于标准误。对从事休闲需求建模和福利评估的经济学者有参考价值。
This paper examines three points concerning the variances of consumer welfare measures: (1) the size of variance estimates depend on the assumed source of error, (2) the precision of welfare estimates (as measured by the coefficient of variation) generally falls with an increase in the size of the welfare change, and (3) the difference between Marshallian and Hicksian welfare measures also depends on the assumed source of error and may be small relative to the standard error. These results are demonstrated analytically using the linear or semilog demand function. A simple simulation experiment illustrates the possible magnitude of these points.