|
|
|
|
|
| Volinskiy, Dmitriy; Bergstrom, John C.; Cornwell, Christopher M.; Holmes, Thomas P.. |
| The assumption of independence of irrelevant alternatives in a sequential contingent valuation format should be questioned. Statistically, most valuation studies treat nonindependence as a consequence of unobserved individual effects. Another approach is to consider an inferential process in which any particular choice is part of a general choosing strategy of a survey respondent. A stochastic model is suggested, consistent with the reflexivity, transitivity, and continuity axioms of utility analysis. An application of this theoretical model to the valuation of watershed ecosystem restoration demonstrates that an empirical model recognizing reflexivity and transitivity, and also allowing for continuity, shows the highest in-sample predictive ability. |
| Tipo: Journal Article |
Palavras-chave: Contingent valuation; Sequential choices; Modeling approaches; Watershed ecosystem service valuation; Environmental Economics and Policy. |
| Ano: 2010 |
URL: http://purl.umn.edu/59325 |
| |
|
| |
|
|
| Prestemon, Jeffrey P.; Mercer, D. Evan; Pye, John M.; Butry, David T.; Holmes, Thomas P.; Abt, Karen L.. |
| Wildfires in the United States result in total damages and costs that are likely to exceed billions of dollars annually. Land managers and policy makers propose higher rates of prescribed burning and other kinds of vegetation management to reduce amounts of wildfire and the risks of catastrophic losses. A wildfire public welfare maximization function, using a wildfire production function estimated using a time series model of a panel of Florida counties, is employed to simulate the publicly optimal level of prescribed burning in an example county in Florida (Volusia). Evaluation of the production function reveals that prescribed fire is not associated with reduced catastrophic wildfire risks in Volusia County Florida, indicating a short-run elasticity of... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Resource /Energy Economics and Policy. |
| Ano: 2001 |
URL: http://purl.umn.edu/20470 |
| |
|
|
| Holmes, Thomas P.; Bergstrom, John C.; Huszar, Eric; Kask, Susan B.; Orr, Fritz, III. |
| A computerized survey instrument was developed to estimate the economic value of riparian restoration along the Little Tennessee River in western North Carolina. Restoration benefits were described in terms of five indicators of ecosystem services: abundance of game fish, water clarity, wildlife habitat, allowable water uses, and ecosystem naturalness. An iterative sequence of dichotomous choice contingent valuation questions were presented to local residents to assess household willingness to pay increased county sales taxes for differing amounts of riparian restoration. Our results showed that the benefits of ecosystem restoration were "super-additive". That is, the total value of conducting many restoration projects exceeded the sum of the value of... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Resource /Energy Economics and Policy. |
| Ano: 2002 |
URL: http://purl.umn.edu/16696 |
| |
|
|
| Holmes, Thomas P.; Murphy, Elizabeth A.; Bell, Kathleen P.. |
| This paper presents a case study of the economic damages to homeowners in a northern New Jersey community due to an exotic forest insect--the hemlock woolly adelgid. Hedonic property value methods are used to estimate the effect of hemlock health on property values. A statistically significant relationship between hemlock health and residential property values is established. Moreover, there are some signs of spillover impacts from hemlock decline, as negative effects are realized on the parcels where the declining hemlock stands are located as well as on neighboring properties. These results give some indication of the benefits of potential control programs and strategies and also show support for community- or neighborhood-based programs in residential... |
| Tipo: Journal Article |
Palavras-chave: Invasive species; Economic impacts; Hedonic property values; General spatial model; Land Economics/Use. |
| Ano: 2006 |
URL: http://purl.umn.edu/10187 |
| |
|
| |
|
|
|
