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Joint Estimation of Revealed and Stated Preference Data: An Application to Recreational Red Snapper Valuation

  • Gillig, Dhazn
  • Woodward, Richard T.
  • Ozuna, Teofilo, Jr.
  • Griffin, Wade L.

This study extends the joint estimation of revealed and stated preference data literature by accounting for truncation in the revealed preference data. The analytical model and estimation procedure are used to estimate the value of recreational red snapper fishing in the Gulf of Mexico. This recreational red snapper valuation is decomposed into its direct and indirect components. As expected, the value of recreational red snapper fishing using the joint revealed-stated preference model proposed in this analysis is bracketed on the upper limit by the value obtained using the contingent valuation method and on the lower limit by the travel cost method. The results also indicate that the joint model improves the precision of estimated recreational red snapper valuation.

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File URL: http://purl.umn.edu/31620
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Article provided by Northeastern Agricultural and Resource Economics Association in its journal Agricultural and Resource Economics Review.

Volume (Year): 32 (2003)
Issue (Month): 2 (October)
Pages:

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Handle: RePEc:ags:arerjl:31620
Contact details of provider: Web page: http://www.narea.org/

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