Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/53323 
Year of Publication: 
2011
Series/Report no.: 
Nota di Lavoro No. 50.2011
Publisher: 
Fondazione Eni Enrico Mattei (FEEM), Milano
Abstract: 
Many nonmarket valuation models, such as the Ricardian model, have been estimated using cross sectional methods with a single year of data. Although multiple years of data should increase the robustness of such methods, repeated cross sections suggest the results are not stable. We argue that repeated cross sections do not properly specify the model. Panel methods that correctly specify the Ricardian model are stable over time. The results suggest that many cross sectional methods including hedonic studies and travel cost studies could be enhanced using panel data.
Subjects: 
Climate Change
Impacts
Agriculture
JEL: 
Q1
Q12
Q51
Q54
Document Type: 
Working Paper

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