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

In practice, it is frequently impossible to identify a single good that
is a weak complement to an environmental amenity for which welfare measures
are desired. However, a set of goods exhibiting this property sometimes
exists, e.g., water related recreational activities when the nonmarket good to
be valued is water quality. A set of weak complements is defined and
implications for welfare measurement presented. The proper welfare measure
now involves evaluation of a line integral and simple additions of areas under
demand curves will not always be correct. However, under certain econometric
circumstances, approximate welfare measures can be obtained from estimated
functions.
Bockstael, Nancy E. and Kenneth E. McConnell (1979). "Calculating
Equivalent and Compensating Variation for Natural Resource
Facilities." Draft report, Department of Resource Economics,
University of Rhode Island, Kingston, RI, August, 15 pp.
This paper addresses the theoretical and applied difficulties involved
in estimating compensated and equivalent variation for large price changes in
natural resource facilities. Unambiguous measures of welfare changes cannot
be calculated when a resource is eliminated (price changes from zero to
infinity). Also, contingent valuation measures are preferred to the direct
approach of travel cost demand analysis for estimating consumer surplus due to
the difficulties of using Willig's bounds in this case of zero demand for
access to the natural resource (trips).
Bockstael, Nancy E. and Kenneth E. McConnell (1981). "Theory and
Estimation of the Household Production Function for Wildlife
Recreation." Journal of Environmental Economics and Management,
8:199-214.
The household production function is an intuitively appealing way to
model man's interaction with nature. This paper models the interaction
between the household's behavior and publicly provided inputs into wildlife
recreation. The paper shows how to compute benefits, assuming that the
household production function is known. The household production function
approach collapses to the simple travel cost approach when households are
unable to substitute their own inputs for publicly provided inputs. In
addition, the paper demonstrates the conditions under which the parameters of
cost an preference functions can be identified. The conditions for
identification are quite restrictive when several choices are endogenous.
Bockstael, Nancy E. and Kenneth E. McConnell (1983). "Welfare
Measurement in the Household Production Framework." American
Economic Review,73(4):806-814,
A new conceptual basis for welfare measurement of nonmarket goods is
provided. The paper shows that the traditionally conceived Marshallian
demands are not uniquely defined. In contrast, the utility constant marginal
value functions that are dependent only on preferences and not technology do
exist and have the usual normative interpretation. Regardless of joint
production or nonconstant returns to scale, the area behind the marginal value
and marginal cost curves measure economic surplus. Changes in this area
measure welfare effects associated with changes in the individual's economic
environment. Finally, the paper shows that equivalent measures of welfare
change can often be obtained in the market for goods that serve as inputs into
the household production process without assuming that the technology is
known.
Bockstael, N.E. and J.J. Opaluch (1983). "Discrete Modeling of Supply
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