Applications of Simulation Methods in Environmental and Resource Economics

Download or read book Applications of Simulation Methods in Environmental and Resource Economics written by Riccardo Scarpa and published by Springer Science & Business Media. This book was released on 2005-12-15 with total page 431 pages. Available in PDF, EPUB and Kindle. Book excerpt: Simulation methods are revolutionizing the practice of applied economic analysis. This volume collects eighteen chapters written by leading researchers from prestigious research institutions the world over. The common denominator of the papers is their relevance for applied research in environmental and resource economics. The topics range from discrete choice modeling with heterogeneity of preferences, to Bayesian estimation, to Monte Carlo experiments, to structural estimation of Kuhn-Tucker demand systems, to evaluation of simulation noise in maximum simulated likelihood estimates, to dynamic natural resource modeling. Empirical cases are used to show the practical use and the results brought forth by the different methods.