annotated bibliography of fisheries economics literature - Office of ...

This paper develops a unified framework for formulating econometric
models of discrete/continuous consumer choices in which the discrete and
continuous choices both flow from the same underlying (random)utility
maximization decision. As a special case a number of models suitable for
empirical application are developed where the discrete choice is among
different f=brands of a commodity. Since these brands are essentially
substitutes, the consumer prefers to buy only one brand at any time; the
discrete choice is which brand to select and the continuous choice is how many
units to buy.
Hanemann, W. Michael (1984). "Welfare Evaluations in Contingent
Valuation Experiments with Discrete Responses." American Journal
of Agricultural Economics, 66(3):339-341.
Since the work of Bishop and Heberlein, a number of contingent valuation
experiments have appeared involving discrete responses that are analyzed by
logit or similar techniques. This paper addresses the issues of how the logit
models should be formulated to be consistent with the hypothesis of utility
maximization and how measures of compensating and equivalent surplus should be
derived from the fitted models. Two distinct types of welfare measures are
introduced and then estimated from Bishop and Heberlein's data.
Hanemann, W. Michael (1994). "Valuing the Environment Through
Contingent Valuation." Journal of Economic Perspectives, 8(4):19-
43.
This paper focuses generally on the use of contingent valuation to
measure people's values for environmental resources, rather than specifically
on natural resource damages. It will describe how researchers go about
conducting reliable surveys. It then addresses some common objections to
surveys and, lastly, considers the compatibility between contingent valuation
and economic theory.
Hanemann, W. Michael and Edward Morey (1992). "Separability, Partial
Demand Systems, and Consumer's Surplus Measures." Journal of
Environmental Economics and Management, 22:241-258.
In practice, complete demand systems are not estimated. Rather, either
an incomplete demand system is estimated, or separability is invoked and a
partial demand system is estimated. This paper considers the relationship
between the conventional compensating variation (equivalent variation) and the
corresponding welfare measure that can be derived from a partial demand system
and the current budget allocation to the separable group. Even assuming the
separability assumption invoked is appropriate, these partial measures
provide, in general, only a limited amount of information about the
compensating variation and no information about the equivalent variation.
Great care is therefore needed when using partial welfare measures to evaluate
policy.
Hanemann, W. Michael and Ivar E. Strand (1993). "Natural Resource
Damage Assessment: Economic Implications for Fisheries
Management." American Journal of Agricultural Economics,
75(5):1188-1193
This paper considers similarities and contrasts between the economic
concepts and procedures used in connection with natural resources damages
assessment and those that arise in connection with fisheries management. The
more significant point that we make is the requirement for a consistent
approach to economic valuation, to eliminate opportunities for mistakes in the
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