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The Travel Cost Model for Lake Recreation: A Comparison of Two Methods for Incorporating Site Quality and Substitution Effects

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  • Peter P. Caulkins
  • Richard C. Bishop
  • Nicolaas W. Bouwes

Abstract

This paper empirically illustrates how different assumptions regarding recreationists' decision-making behavior affect the predicted changes in recreational activity given a water quality improvement. A multinomial logit model, which reallocates visits away from other sites to the improved site, predicts a smaller outward shift of the recreationist's demand curve than the more traditional travel cost model, which does not assume any reallocation of visits among sites.

Suggested Citation

  • Peter P. Caulkins & Richard C. Bishop & Nicolaas W. Bouwes, 1986. "The Travel Cost Model for Lake Recreation: A Comparison of Two Methods for Incorporating Site Quality and Substitution Effects," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 68(2), pages 291-297.
  • Handle: RePEc:oup:ajagec:v:68:y:1986:i:2:p:291-297.
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