Summarize and Plot Policy Welfare Impacts

Extracts and visualizes the expected economic welfare changes across all simulated policy scenarios, including statistical uncertainty.

Usage

summarize_policy_welfare(project, plot_scenarios = NULL, plot_models = NULL)

Arguments

project

Character. Name of the project.

plot_scenarios

Character vector (optional). Specific Scenario or Simulation names to include in the plots. If NULL (the default), scenarios are not filtered.

plot_models

Character vector (optional). Specific Model names to include in the plots (e.g., "zonal_logit", "clogit"). If NULL (the default), models are not filtered.

Value

A list containing three elements: summary_data (a data frame of welfare impacts), plot_bar (mean per-trip changes), and plot_density (distribution of uncertainty).

Details

What does "Welfare Change" represent?

In this simulation framework, "welfare change" represents the Compensating Variation (CV) resulting from a policy shock, expressed in real-world monetary units (e.g., dollars).

It is calculated using the log-sum difference formula from random utility theory. This metric captures not just the direct penalty of a closure or a drop in catch, but also the mitigating effect of spatial substitution—how fishers adapt by reallocating their effort to the next-best available fishing grounds.