The Travel Cost Method: an empirical investigation of Randall's Difficulty
Randall (1994) argued that the Travel Cost Method (TCM) cannot generate monetary measures of recreation site benefits for use in Cost Benefit Analysis. Randall argues that what is relevant to recreational decision‐making is the subjective, and unobservable, price of travel, whereas TCM uses the observer‐assessed cost of travel. Hence, TCM can at best give ordinally measurable welfare estimates. ‘Randall’s Difficulty’ is formulated as an estimation problem and results are derived for that problem. The meaning of, prospects for, and usefulness of ordinal measurement are explored, and the existence of a solution to Randall’s Difficulty is considered.
Volume (Year): 43 (1999)
Issue (Month): 4 (December)
|Contact details of provider:|| Postal: AARES Central Office Manager, Crawford School of Public Policy, ANU, Canberra ACT 0200|
Phone: 0409 032 338
Web page: http://www.aares.info
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Ian J. Bateman & Guy D. Garrod & Julii S. Brainard & Andrew A. Lovett, 1996. "Measurement Issues In The Travel Cost Method: A Geographical Information Systems Approach," Journal of Agricultural Economics, Wiley Blackwell, vol. 47(1-4), pages 191-205.
- John R. McKean & Donn M. Johnson & Richard G. Walsh, 1995. "Valuing Time in Travel Cost Demand Analysis: An Empirical Investigation," Land Economics, University of Wisconsin Press, vol. 71(1), pages 96-105.
- Englin Jeffrey & Shonkwiler J. S., 1995. "Modeling Recreation Demand in the Presence of Unobservable Travel Costs: Toward a Travel Price Model," Journal of Environmental Economics and Management, Elsevier, vol. 29(3), pages 368-377, November.
- Peter C. Boxall & Wiktor L. Adamowicz & Theodore Tomasi, 1996.
"A Nonparametric Test of the Traditional Travel Cost Model,"
Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie,
Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 44(2), pages 183-193, 07.
- Boxall, P.C. & Adamowicz, Wiktor L. & Graham-Tomasi, T., 1992. "A Nonparametric Test of the Traditional Travel Cost Model," Staff Paper Series 232535, University of Alberta, Department of Resource Economics and Environmental Sociology.
- Michael S. Common & Tim Bull & Natalie Stoeckl, 1997.
"The Travel Cost Method: an Empirical Investigation of Randall's Difficulty,"
Working Papers in Ecological Economics
9705, Australian National University, Centre for Resource and Environmental Studies, Ecological Economics Program.
- Common, Mick S. & Bull, Tim & Stoeckl, Natalie, 1999. "The Travel Cost Method: an empirical investigation of Randall's Difficulty," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 43(4), pages -, December.
- John R. McKean & Charles F. Revier, 1990. "An Extension of: "Omitted Cross-Price Variable Biases in the Linear Travel Cost Model: Correcting Common Misperceptions"," Land Economics, University of Wisconsin Press, vol. 66(4), pages 430-436.
When requesting a correction, please mention this item's handle: RePEc:ags:aareaj:117209. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.