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Joint Estimation of Revealed and Stated Preference Data: An Application to Recreational Red Snapper Valuation

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Author Info

  • Gillig, Dhazn
  • Woodward, Richard T.
  • Ozuna, Teofilo, Jr.
  • Griffin, Wade L.

Abstract

This study extends the joint estimation of revealed and stated preference data literature by accounting for truncation in the revealed preference data. The analytical model and estimation procedure are used to estimate the value of recreational red snapper fishing in the Gulf of Mexico. This recreational red snapper valuation is decomposed into its direct and indirect components. As expected, the value of recreational red snapper fishing using the joint revealed-stated preference model proposed in this analysis is bracketed on the upper limit by the value obtained using the contingent valuation method and on the lower limit by the travel cost method. The results also indicate that the joint model improves the precision of estimated recreational red snapper valuation.

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File URL: http://purl.umn.edu/31620
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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): 32 (2003)
Issue (Month): 2 (October)
Pages:

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Handle: RePEc:ags:arerjl:31620

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

Keywords: Resource /Energy Economics and Policy;

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RePEc Biblio mentions

As found on the RePEc Biblio, the curated bibliography for Economics:
  1. > Environmental and Natural Resource Economics > Environmental Economics > Valuation > Contingent valuation method > Revealed preference and joint estimation
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Cited by:
  1. John C. Whitehead & Subhrendu K. Pattanayak & George L. Van Houtven & Brett R. Gelso, 2008. "Combining Revealed And Stated Preference Data To Estimate The Nonmarket Value Of Ecological Services: An Assessment Of The State Of The Science," Journal of Economic Surveys, Wiley Blackwell, vol. 22(5), pages 872-908, December.
  2. John C. Whitehead & Christopher F. Dumas & Craig E. Landry & Jim Herstine, 2011. "Valuing Bag Limits in the North Carolina Charter Boat Fishery with Combined Revealed and Stated Preference Data," Working Papers 11-08, Department of Economics, Appalachian State University.
  3. Utpal Kumar De & Amrita Devi, 2011. "Valuing Recreational and Conservational Benefits of a Natural Tourist Site: Case of Cherrapunjee," Journal of Quantitative Economics, The Indian Econometric Society, The Indian Econometric Society, vol. 9(2), pages 154-172, July.
  4. Lienhoop, Nele & Ansmann, Till, 2011. "Valuing water level changes in reservoirs using two stated preference approaches: An exploration of validity," Ecological Economics, Elsevier, vol. 70(7), pages 1250-1258, May.

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