Skip Ribbon Commands
Skip to main content
Home | Support RFF | Join E-mail List | Contact
RFF Logo
Skip navigation links
RESEARCH TOPICS
CENTERS
PUBLICATIONS
NEWS
EVENTS
RESEARCHERS
ABOUT RFF
 

 

 
Join E-mail List
Please provide your e-mail address to receive periodic newsletters and invitations to public events
 
 
Non-Price Equilibria for Non-Marketed Goods
Daniel J. Phaneuf, Jared Carbone, Joseph A. Herriges
RFF Discussion Paper 07-25 | April 2007
RESEARCH TOPICS:
Abstract
As part of the Resources for the Future Frontiers of Environmental Economics collection of papers, we consider the problem of general equilibrium feedback effects in non-price space as they relate to non-market valuation. Our overall objective is to examine the extent to which nonprice equilibria arising from both simple and complex sorting behavior can be empirically modeled and the resulting differences in partial and general equilibrium welfare measures quantified. After motivating the problem in general we consider the specific context of congestion in recreation demand applications, which we classify as the outcome of a simple sorting equilibrium. Using both econometric and computable general equilibrium (CGE) models we examine the conceptual and computational challenges associated with this class of problemsand present findings on promising solution avenues. We demonstrate the relevance of accounting for congestion effects in recreation demand with an application to lake visits in Iowa. Our econometric and CGE results confirm that, for some plausible counterfactual scenarios, substantial differences exist between partial and general equilibrium welfare estimates. We conclude the paper by describing tasks that are needed to move forward research in this area.
RFF Home | RFF Press: An Imprint of Routledge Terms of Use | Privacy Policy | Copyright Notice
1616 P St. NW, Washington, DC 20036 ยท 202.328.5000 Feedback | Contact Us