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Developing confidence intervals for economic impacts: A multi-regional analysis of a recreational fishery in Korea
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2018
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Source: Marine Policy, 94, 20-27
[PDF-463.83 KB]
Details:
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Journal Title:Marine Policy
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NOAA Program & Office:
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Description:This study constructs confidence intervals for the economic impacts of recreational fishing in the Gyeong-Nam (GN) province of Korea, using a multi-regional input-output (MRIO) model for 16 provinces in Korea. Recreation-related expenditures are first bootstrapped, and then confidence intervals surrounding the change in total industry output of each province were calculated using two methods—normal approximation and bias-corrected percentile (BCP). The results show that, at the 95% confidence level, the interval endpoints of the economic impacts for the provinces are 8.9–10.3% percent above or below the point estimate from the original sample when calculated using the normal approximation method. The BCP method yields endpoints that are 8.7% below to 13.1% above the point estimate. The wide intervals of the economic impacts shown in this study imply that policy decisions based solely upon the point estimates could be misled.
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Source:Marine Policy, 94, 20-27
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DOI:
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ISSN:0308-597X
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Document Type:
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Rights Information:Accepted Manuscript
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Compliance:Library
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