The Role Of Expectations And Heterogeneous Preferences For Congestion In The Valuation Of Recreation Benefits
AbstractStudies 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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Bibliographic InfoArticle provided by Northeastern Agricultural and Resource Economics Association in its journal Agricultural and Resource Economics Review.
Volume (Year): 26 (1997)
Issue (Month): 2 (October)
Resource /Energy Economics and Policy;
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- 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.
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- McConnell, K. E., 1988. "Heterogeneous preferences for congestion," Journal of Environmental Economics and Management, Elsevier, vol. 15(3), pages 251-258, September.
- Lindsey, Robin, 2011. "State-dependent congestion pricing with reference-dependent preferences," Transportation Research Part B: Methodological, Elsevier, vol. 45(10), pages 1501-1526.
- Boxall, Peter C. & Rollins, Kimberly S. & Englin, Jeffrey E., 2002.
"Heterogeneous Preferences For Congestion During A Wilderness Experience,"
34133, University of Guelph, Department of Food, Agricultural and Resource Economics.
- Boxall, Peter & Rollins, Kimberly & Englin, Jeffrey, 2003. "Heterogeneous preferences for congestion during a wilderness experience," Resource and Energy Economics, Elsevier, vol. 25(2), pages 177-195, May.
- 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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