The Travel Cost Method: an empirical investigation of Randall's Difficulty
AbstractRandall (1994) argued that the Travel Cost Method (TCM) cannot generate monetary measures of recreation site benefits for use in Cost Benefit Analysis. Randall argues that what is relevant to recreational decision‐making is the subjective, and unobservable, price of travel, whereas TCM uses the observer‐assessed cost of travel. Hence, TCM can at best give ordinally measurable welfare estimates. ‘Randall’s Difficulty’ is formulated as an estimation problem and results are derived for that problem. The meaning of, prospects for, and usefulness of ordinal measurement are explored, and the existence of a solution to Randall’s Difficulty is considered.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Australian Agricultural and Resource Economics Society in its journal Australian Journal of Agricultural and Resource Economics.
Volume (Year): 43 (1999)
Issue (Month): 4 (December)
Contact details of provider:
Postal: AARES Central Office Manager, Crawford School of Public Policy, ANU, Canberra ACT 0200
Phone: 0409 032 338
Web page: http://www.aares.info
More information through EDIRC
Research Methods/ Statistical Methods;
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Ian J. Bateman & Guy D. Garrod & Julii S. Brainard & Andrew A. Lovett, 1996. "Measurement Issues In The Travel Cost Method: A Geographical Information Systems Approach," Journal of Agricultural Economics, Wiley Blackwell, vol. 47(1-4), pages 191-205.
- Peter C. Boxall & Wiktor L. Adamowicz & Theodore Tomasi, 1996. "A Nonparametric Test of the Traditional Travel Cost Model," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 44(2), pages 183-193, 07.
- Smith, V. Kerry, 1989. "Taking Stock of Progress with Travel Cost Recreation Demand Methods: Theory and Implementation," Marine Resource Economics, Marine Resources Foundation, vol. 6(4).
- John R. McKean & Donn M. Johnson & Richard G. Walsh, 1995. "Valuing Time in Travel Cost Demand Analysis: An Empirical Investigation," Land Economics, University of Wisconsin Press, vol. 71(1), pages 96-105.
- Englin Jeffrey & Shonkwiler J. S., 1995. "Modeling Recreation Demand in the Presence of Unobservable Travel Costs: Toward a Travel Price Model," Journal of Environmental Economics and Management, Elsevier, vol. 29(3), pages 368-377, November.
- John R. McKean & Charles F. Revier, 1990. "An Extension of: "Omitted Cross-Price Variable Biases in the Linear Travel Cost Model: Correcting Common Misperceptions"," Land Economics, University of Wisconsin Press, vol. 66(4), pages 430-436.
- Bowker, James Michael & Starbuck, C. Meghan & English, Donald B.K. & Bergstrom, John C. & Rosenberger, Randall S. & McCollum, Daniel W., 2009. "Estimating the Net Economic Value of National Forest Recreation: An Application of the National Visitor Use Monitoring Database," Faculty Series 59603, University of Georgia, Department of Agricultural and Applied Economics.
- Roberto Martinez-Espineira & Joe Amoako-Tuffour, 2008. "Multi-destination and multi-purpose trip effects in the analysis of the demand for trips to a remote recreational site," EERI Research Paper Series EERI_RP_2008_19, Economics and Econometrics Research Institute (EERI), Brussels.
- van Rensburg, Tom M. & Mill, Greig A. & Common, Mick & Lovett, Jon, 2002. "Preferences and multiple use forest management," Ecological Economics, Elsevier, vol. 43(2-3), pages 231-244, December.
- Ovaskainen, Ville & Neuvonen, Marjo & Pouta, Eija, 2012. "Modelling recreation demand with respondent-reported driving cost and stated cost of travel time: A Finnish case," Journal of Forest Economics, Elsevier, vol. 18(4), pages 303-317.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.