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Consistency in Mixed Demand Systems: Contingent Valuation and Travel Cost Data

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  • Maria A. Cunha-e-S�
  • Maria M. Ducla-Soares
  • Lu�s C. Nunes
  • Philippe Polomé

Abstract

In contrast to previous literature, we propose a consistency test that does not impose any particular common functional form for the preference structure underlying the travel cost (TC) and contingent valuation (CV) models. We derive testable consistency conditions between TC and CV data in the context of mixed demand systems when valuing changes in environmental quality. These conditions are a subset of the rationality conditions. The proposed consistency tests are implemented combining TC and CV data. The empirical results show that it is possible to combine stated TC and CV, but not revealed TC and CV data. Copyright 2004, Oxford University Press.

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File URL: http://hdl.handle.net/10.1111/j.0092-5853.2004.00590.x
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Bibliographic Info

Article provided by Agricultural and Applied Economics Association in its journal American Journal of Agricultural Economics.

Volume (Year): 86 (2004)
Issue (Month): 2 ()
Pages: 444-454

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Handle: RePEc:oup:ajagec:v:86:y:2004:i:2:p:444-454

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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. Hoyos, David & Riera, Pere, 2013. "Convergent validity between revealed and stated recreation demand data: Some empirical evidence from the Basque Country, Spain," Journal of Forest Economics, Elsevier, vol. 19(3), pages 234-248.
  2. 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.
  3. Beaumais, Olivier & Appéré, Gildas, 2010. "Recreational shellfish harvesting and health risks: A pseudo-panel approach combining revealed and stated preference data with correction for on-site sampling," Ecological Economics, Elsevier, vol. 69(12), pages 2315-2322, October.

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