Combining Farrell Frontier and Hedonic Travel Cost Models for Valuing Estuarine Quality
AbstractThis paper extends the Brown-Mendelsohn hedonic travel cost model by estimating the travel cost function for each recreationist as a technically efficient frontier. It also constrains the marginal prices for desirable characteristics to be nonnegative. The model is used to value improvements in the quality of sport fishing in the Albemarle-Pamlico Estuary in North Carolina. The application compares the performance of the frontier hedonic travel cost with ordinary least squares estimates, and finds the former to be free of problems identified in the literature and to provide more plausible and robust benefit estimates for quality improvements. Copyright 1991 by MIT Press.
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Bibliographic InfoArticle provided by MIT Press in its journal Review of Economics & Statistics.
Volume (Year): 73 (1991)
Issue (Month): 4 (November)
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- John C. Whitehead & Timothy C. Haab & Ju-Chin Huang, 1999.
"Measuring Recreation Benefits of Quality Improvements with Revealed and Stated Behavior Data,"
Working Papers, East Carolina University, Department of Economics
9902, East Carolina University, Department of Economics.
- Whitehead, John C. & Haab, Timothy C. & Huang, Ju-Chin, 2000. "Measuring recreation benefits of quality improvements with revealed and stated behavior data," Resource and Energy Economics, Elsevier, Elsevier, vol. 22(4), pages 339-354, October.
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- Scrogin, David & Hofler, Richard & Boyle, Kevin J. & Milon, J. Walter, 2004. "On The Frontier Of Generating Revealed Preference Choice Sets: An Efficient Approach," 2004 Annual meeting, August 1-4, Denver, CO, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) 20134, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
- Pendleton, Linwood, 1999. "Reconsidering the hedonic vs. RUM debate in the valuation of recreational environmental amenities," Resource and Energy Economics, Elsevier, Elsevier, vol. 21(2), pages 167-189, May.
- Aiken, Deborah Vaughn, 2006. "Application of the distance function to nonmarket valuation of environmental goods and services: An illustrative example," Ecological Economics, Elsevier, Elsevier, vol. 60(1), pages 168-175, November.
- Cropper, Maureen L & Oates, Wallace E, 1992. "Environmental Economics: A Survey," Journal of Economic Literature, American Economic Association, American Economic Association, vol. 30(2), pages 675-740, June.
- Phaneuf, Daniel J. & Smith, V. Kerry, 2006. "Recreation Demand Models," Handbook of Environmental Economics, Elsevier, in: K. G. Mäler & J. R. Vincent (ed.), Handbook of Environmental Economics, edition 1, volume 2, chapter 15, pages 671-761 Elsevier.
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