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The Role Of Expectations And Heterogeneous Preferences For Congestion In The Valuation Of Recreation Benefits

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  • Michael, Jeffrey A.
  • Reiling, Stephen D.
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    Abstract

    Studies of recreation congestion generally utilize nonmarket valuation techniques to determine the use level and entrance price that maximize aggregate recreation benefits for a specific recreation area. This paper improves upon these previous studies by relaxing the assumption of homogeneous preferences among visitors of the same recreation area and accounting for visitor expectations of congestion. The results indicate that failing to account for heterogeneous preferences for congestion by time of visit leads to overestimates of the benefits of relieving peak-time congestion, while accounting for expectations raises questions about the validity of the standard optimal use model.

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    File URL: http://purl.umn.edu/31564
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    Bibliographic Info

    Article provided by Northeastern Agricultural and Resource Economics Association in its journal Agricultural and Resource Economics Review.

    Volume (Year): 26 (1997)
    Issue (Month): 2 (October)
    Pages:

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    Handle: RePEc:ags:arerjl:31564

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    Web page: http://www.narea.org/
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    Related research

    Keywords: Resource /Energy Economics and Policy;

    References

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    1. Kerry Smith, V., 1981. "Congestion, travel cost recreational demand models, and benefit evaluation," Journal of Environmental Economics and Management, Elsevier, vol. 8(1), pages 92-96, March.
    2. Walsh, Richard G. & Gilliam, Lynde O., 1982. "Benefits Of Wilderness Expansion With Excess Demand For Indian Peaks," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 7(01), July.
    3. Cameron, Trudy Ann, 1988. "A new paradigm for valuing non-market goods using referendum data: Maximum likelihood estimation by censored logistic regression," Journal of Environmental Economics and Management, Elsevier, vol. 15(3), pages 355-379, September.
    4. Freeman, A. III & Haveman, Robert M., 1977. "Congestion, quality deterioration, and heterogeneous tastes," Journal of Public Economics, Elsevier, vol. 8(2), pages 225-232, October.
    5. Fredric C. Menz & John K. Mullen, 1981. "Expected Encounters and Willingness to Pay for Outdoor Recreation," Land Economics, University of Wisconsin Press, vol. 57(1), pages 33-40.
    6. Kenneth E. McConnell, 1977. "Congestion and Willingness to Pay: A Study of Beach Use," Land Economics, University of Wisconsin Press, vol. 53(2), pages 185-195.
    7. McConnell, K. E., 1988. "Heterogeneous preferences for congestion," Journal of Environmental Economics and Management, Elsevier, vol. 15(3), pages 251-258, September.
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    Cited by:
    1. Lindsey, Robin, 2011. "State-dependent congestion pricing with reference-dependent preferences," Transportation Research Part B: Methodological, Elsevier, vol. 45(10), pages 1501-1526.
    2. Boxall, Peter C. & Rollins, Kimberly S. & Englin, Jeffrey E., 2002. "Heterogeneous Preferences For Congestion During A Wilderness Experience," Working Papers 34133, University of Guelph, Department of Food, Agricultural and Resource Economics.
    3. Christopher Timmins & Jennifer Murdock, 2006. "A Revealed Preference Approach to the Measurement of Congestion in Travel Cost Models," Working Papers tecipa-213, University of Toronto, Department of Economics.

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