FUNCTIONAL FORM AND WELFARE MEASURES IN TRUNCATED RECREATION DEMAND MODELS Academic Article uri icon

abstract

  • This article examines the effect on welfare measures of functional form choice and sample truncation. A truncated general Box-Cox model is developed for discriminating between alternative truncated functional forms. The model is applied to the valuation of three Texas coastal recreation sites. Neither the truncated double-log nor the truncated semilog forms are appropriate for the truncated data used in the empirical analysis. Different functional forms yield different consumer's surplus estimates when samples are truncated. 1993 American Agricultural Economics Association.

published proceedings

  • AMERICAN JOURNAL OF AGRICULTURAL ECONOMICS

author list (cited authors)

  • OZUNA, T., JONES, L. L., & CAPPS, O.

citation count

  • 10

complete list of authors

  • OZUNA, T||JONES, LL||CAPPS, O

publication date

  • January 1, 1993 11:11 AM

publisher