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Employing Travel Costs to Compare the Use Value of Competing Cultural Organizations

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Author Info
Boter, Jaap (Vrije Universiteit Amsterdam, Faculteit der Economische Wetenschappen en Econometrie (Free University Amsterdam, Faculty of Economics Sciences, Business Administration and Economitrics)
Rouwendal, Jan
Wedel, Michel

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Abstract

Since recently, a number of studies have applied non-market valuation techniques to measure the value of cultural goods. All studies are single case applications and rely mostly on stated preferences, such as contingent valuation techniques. We compare the relative value of multiple, competing goods and show how revealed preferences, in particular travel costs, may be used for this. In addition, we account for heterogeneity. Using a unique transaction database with the visiting behavior of 80,821 Museum Cardholders to 108 Dutch museums, we propose a latent class application of a logit model to account for the different distances of museums to the population and for differences in willingness-to-travel.

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Publisher Info
Paper provided by Free University Amsterdam, Faculty of Economics, Business Administration and Econometrics in its series Serie Research Memoranda with number 0011.

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Date of creation: 2004
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Handle: RePEc:dgr:vuarem:2004-11

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Web page: http://www.econ.vu.nl

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Related research
Keywords: museums non-market valuation revealed preferences travel cost method

Find related papers by JEL classification:
D46 - Microeconomics - - Market Structure and Pricing - - - Value Theory

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References listed on IDEAS
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  1. David Revelt & Kenneth Train, 1998. "Mixed Logit With Repeated Choices: Households' Choices Of Appliance Efficiency Level," The Review of Economics and Statistics, MIT Press, vol. 80(4), pages 647-657, November. [Downloadable!] (restricted)
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  5. Trine Hansen, 1997. "The Willingness-to-Pay for the Royal Theatre in Copenhagen as a Public Good," Journal of Cultural Economics, Springer, vol. 21(1), pages 1-28, March. [Downloadable!] (restricted)
  6. Hamparsum Bozdogan, 1987. "Model selection and Akaike's Information Criterion (AIC): The general theory and its analytical extensions," Psychometrika, Springer, vol. 52(3), pages 345-370, September. [Downloadable!] (restricted)
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  9. Wansbeek, Tom & Wedel, Michel & Meijer, Erik, 2001. "Comment on "Microeconometrics" by J.A. Hausman," Journal of Econometrics, Elsevier, vol. 100(1), pages 89-91, January. [Downloadable!] (restricted)
  10. Eric Thompson & Mark Berger & Glenn Blomquist & Steven Allen, 2002. "Valuing the Arts: A Contingent Valuation Approach," Journal of Cultural Economics, Springer, vol. 26(2), pages 87-113, May. [Downloadable!] (restricted)
  11. Jordi Sintas & Ercilia Álvarez, 2002. "The Consumption of Cultural Products: An Analysis of the Spanish Social Space," Journal of Cultural Economics, Springer, vol. 26(2), pages 115-138, May. [Downloadable!] (restricted)
  12. Manuel Cuadrado & Marta Frasquet, 1999. "Segmentation of Cinema Audiences: An Exploratory Study Applied to Young Consumers," Journal of Cultural Economics, Springer, vol. 23(4), pages 257-267, November. [Downloadable!] (restricted)
  13. David Throsby, 2003. "Determining the Value of Cultural Goods: How Much (or How Little) Does Contingent Valuation Tell Us?," Journal of Cultural Economics, Springer, vol. 27(3), pages 275-285, November. [Downloadable!] (restricted)
  14. Edward Morey & Kathleen Greer Rossmann, 2003. "Using Stated-Preference Questions to Investigate Variations in Willingness to Pay for Preserving Marble Monuments: Classic Heterogeneity, Random Parameters, and Mixture Models," Journal of Cultural Economics, Springer, vol. 27(3), pages 215-229, November. [Downloadable!] (restricted)
  15. Jonathan Corning & Armando Levy, 2002. "Demand for Live Theater with Market Segmentation and Seasonality," Journal of Cultural Economics, Springer, vol. 26(3), pages 217-235, August. [Downloadable!] (restricted)
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  17. Juan Prieto-Rodríguez & Víctor Fernández-Blanco, 2000. "Are Popular and Classical Music Listeners the Same People?," Journal of Cultural Economics, Springer, vol. 24(2), pages 147-164, May. [Downloadable!] (restricted)
  18. Anna Alberini & Patrizia Riganti & Alberto Longo, 2003. "Can People Value the Aesthetic and Use Services of Urban Sites? Evidence from a Survey of Belfast Residents," Journal of Cultural Economics, Springer, vol. 27(3), pages 193-213, November. [Downloadable!] (restricted)
  19. Franco Papandrea, 1999. "Willingness to Pay for Domestic Television Programming," Journal of Cultural Economics, Springer, vol. 23(3), pages 147-164, August. [Downloadable!] (restricted)
  20. John Whitehead & Suzanne Finney, 2003. "Willingness to Pay for Submerged Maritime Cultural Resources," Journal of Cultural Economics, Springer, vol. 27(3), pages 231-240, November. [Downloadable!] (restricted)
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