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Validation of empirical measures of welfare change: comment

Boyle, Kevin J. and Welsh, Michael P. and Bishop, Richard C. (1988): Validation of empirical measures of welfare change: comment. Published in: Land Economics , Vol. 64, No. 1 (1988): pp. 94-98.

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Abstract

In an excellent article from a recent issue of this journal, Sellar, Stoll and Chavas (1985) make a technical error which causes them to misstate their closed-ended estimates of willingness to pay. Truncation of the estimated cummulative distribution function must we made explicit in compution of willingness to pay.

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