On Approximating the Statistical Properties of Elasticities

Krinsky, Itzhak; Robb, Alicia

doi:10.2307/1924536

Cited by 1,924 publications

(1,061 citation statements)

References 5 publications

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“…It is desirable to calculate its confidence interval to allow for the uncertainty related to the calculation of the point estimate for the mean WTP. The 95% confidence interval computed adopting the parametric bootstrapping method presented in Krinsky and Robb [40] is KRW 5004 to 6304 (USD 4.44 to 5.60). Notes: a The unit is KRW 1000, and the exchange rate was USD 1.0 = KRW 1126 at the time of the survey.…”

Section: Datamentioning

confidence: 99%

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Public Value of Enforcing the PM2.5 Concentration Reduction Policy in South Korean Urban Areas

Kim

Yoo

2018

Sustainability

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As the number of cars and the electricity produced from coal-fired generation has been increasing, PM 2.5 , particles smaller than 2.5 µm in diameter, has become a serious problem in South Korean urban areas. This is especially notable, given that the PM 2.5 warning was issued 89 times during 2016. Because of this, the South Korean government is seeking to enforce a policy of reducing the number of PM 2.5 warnings by half using various policy instruments from now until 2022. This article tries to obtain information about the public value of the enforcement. For this purpose, household willingness to pay (WTP) for the enforcement is investigated, applying the contingent valuation (CV) approach. A survey of 1000 households was carried out in South Korean urban areas. The data on the WTP were gathered using a dichotomous choice question and analyzed employing the spike model. The mean WTP estimate is obtained as KRW 5591 (USD 4.97) per household per year, which is statistically significant. The total public value expanded to the population amounts to KRW 98.9 billion (USD 87.8 million) per year. The information can be utilized in policy-making and decision-making about the reduction of the PM 2.5 concentration.

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Section: Datamentioning

confidence: 99%

“…b The unit is KRW 1000 (USD 1.0 = KRW 1126 at the time of the survey). c It is calculated using the parametric bootstrapping method given in Krinsky and Robb [40]. d It is computed under the null hypothesis of all the parameters' being jointly zero.…”

Section: Reflection Of Covariatesmentioning

confidence: 99%

Public Value of Enforcing the PM2.5 Concentration Reduction Policy in South Korean Urban Areas

Kim

Yoo

2018

Sustainability

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“…Marginal Willingness to Pay for attributes of multifunctional agriculture 1 MWTP estimated using the WALD procedure in LIMDEP 8.0 NLOGIT 3.0. Numbers in parentheses are standard errors 2 MWTP estimated using population minutes 3 Numbers in parentheses denote the lower and upper confidence intervals, at the 95% level, estimated using the bootstrapping procedure by Krinsky and Robb (1986). 4 Numbers in parentheses denote the lower and upper confidence intervals, at the 95% level, estimated using population minutes…”

Section: Resultsmentioning

confidence: 99%

“…Krinsky and Robb (1986) proposed a method which uses random draws from a multivariate normal distribution, using the vector of estimated coefficients and the estimated variancecovariance matrix. For random coefficients, the procedure uses population minutes.…”

Section: Methodological Frameworkmentioning

confidence: 99%

Valuation of environmental and social functions of the multifunctional Cypriot agriculture

Ragkos

Theodoridis

2016

Land Use Policy

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Abstract. The multifunctional farm sector in Cyprus poses threats on the island's water resources, but also highly contributes to preserving the cultural identity, incomes and employment in rural areas. This paper presents an application of the Choice Experiment method, in order to evaluate these features of Cypriot agriculture, which are externalities, as farmers are not remunerated in markets for such services. The results of the empirical analysis demonstrate that the Cypriot public is in favor of a less intensive pattern of agriculture. Furthermore, Cypriots are willing to pay in order to mitigate adverse environmental effects of agriculture, to improve cultural heritage and to safeguard the continuation of farming trade on the island. The estimated benefits often exceed income losses from changes in the cropping pattern, which verifies that EU rural development policies are regarded as beneficial by the public.

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“…The standard error is computed using the bootstrapping methods proposed by Krinsky and Robb (1986). The di¤erence between the two values indicates how entry costs reduce the probability of exporters'participating in foreign markets.…”

Section: Dynamic Probit Estimatesmentioning

confidence: 99%

Analyzing Trade Liberalization Effect in the Egg Sector Using a Dynamic Gravity Model

2012

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Abstract:This study analyzes the effects of different liberalization scenarios in the international trade of eggs and egg products. We use a dynamic gravity model that takes into account the observed persistence of trading partners. The estimated parameters of the gravity model serve to quantify the impact of various liberalization scenarios on the probability of importing (extensive margin) and on trade volumes (intensive margin). The results indicate that even in the context of aggressive trade liberalization, trade gains at the extensive margin will be modest. Gains at the intensive margin of trade are present even in the context of partial liberalization -Doha type -of trade.Keywords: Eggs and eggs products, Persistence in trade, Trade liberalization, Gravity model, Random-effects dynamic Probit, Autoregressive panel Résumé:Cette étude analyse les impacts de différents scénarios de libéralisation du commerce international des oeufs, des ovoproduits et des produits à base d'oeufs. Nous utilisons un modèle de gravité dynamique prenant en compte l'effet de persistance des partenaires commerciaux. Les paramètres estimés du modèle de gravité sont utilisés afin de quantifier l'impact des scénarios de libéralisation sur la probabilité d'exporter (marge extensive) et sur l'intensité des volumes commerciaux (marge intensive). Les résultats montrent que les gains sur la probabilité d'exporter sont modestes et cela quel que soit l'ampleur de la libéralisation des échanges. Par contre la libéralisation des échanges se traduit par une augmentation des volumes exportés aussi bien dans le cas du scénario de libéralisation partielle -type Doha -que dans celui d'une libéralisation agressive des échanges.

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On Approximating the Statistical Properties of Elasticities

Cited by 1,924 publications

References 5 publications

Public Value of Enforcing the PM2.5 Concentration Reduction Policy in South Korean Urban Areas

Public Value of Enforcing the PM2.5 Concentration Reduction Policy in South Korean Urban Areas

Valuation of environmental and social functions of the multifunctional Cypriot agriculture

Analyzing Trade Liberalization Effect in the Egg Sector Using a Dynamic Gravity Model

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