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Investigating distance effects on environmental values: a choice modelling approach
choice modelling geographical distance spatial heterogeneity stratified sample
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2011/10/5
Analysis of the relationship between distance and willingness to pay (WTP) is important for estimation and transfer of environmental benefits. Several contingent valuation (CV) studies have investigat...
Improvement in Finite Sample Properties of the Hansen-Jagannathan Distance Test
Covariance matrix estimation Factor models Finite sample properties Hansen-Jagannathan distance Shrinkage method
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2011/4/2
Jagannathan and Wang (1996) derive the asymptotic distribution of the Hansen-Jagannathan distance (HJ-distance) proposed by Hansen and Jagannathan (1997), and develop a specification test of asset pri...