When environmental quality enters random utility models linearly, welfare measures are convex in quality. The convexity is partly due to site substitution, and it has policy implications for whether changes in quality should be concentrated or diffuse. These functional form effects are illustrated in a model of Great Lakes fishing.Environmental Economics and Policy,

Lupi, Frank

English

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INCREASING AT AN INCREASING RATE: THE POTENTIAL CONVEXITY OF DISCRETE-CHOICE WELFARE MEASURES

INCREASING AT AN INCREASING RATE: THE POTENTIAL CONVEXITY OF DISCRETE-CHOICE WELFARE MEASURES

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