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| - The Reliability of Estimates of Environmental Benefits from Recreation Demand Models
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| - Recreation demand models are commonly employed tools of economists interested in valuing improvements in environmental amenities. Despite their importance, little comparative work has been undertaken to examine the ability of the models to accurately estimate welfare changes. A simulation study designed to compare the reliability of estimated welfare measures (compensating variation and consumer surplus) from several commonly employed recreation demand models is presented. Results of the study indicate that choice of functional form and model specification are important determinants of the resulting estimates of benefits.
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