Modelling recreation demand with respondent-reported driving cost and stated cost of travel time: A Finnish case
As the price of recreational visits is unobservable and commonly represented by researcher-assigned travel cost estimates, welfare change estimates generated by the travel cost method are ordinally measurable (Randall, 1994). For a potential solution to the resulting calibration problem we use respondent-reported driving costs and the stated cost of travel time, measured by willingness to pay to reduce travel time, to represent the individual trip price. On-site data from a hiking area in Finland are used. After considering visitors’ perceptions of driving cost and travel time, models with individual driving costs and stated cost of travel time are compared to standard specifications based on a uniform rate of driving cost and wage-based time cost. The use of respondent-reported driving costs appears to be a working approach for calibrating the benefit measures. The stated cost of time was logically related to visitor and trip characteristics and had plausible effects on benefit estimates.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 18 (2012)
Issue (Month): 4 ()
|Contact details of provider:|| Web page: http://www.elsevier.com/wps/find/journaldescription.cws_home/701775/description#description|
|Order Information:|| Postal: http://www.elsevier.com/wps/find/journaldescription.cws_home/701775/bibliographic|
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.:
- Hess, Stephane & Rose, John M. & Hensher, David A., 2008. "Asymmetric preference formation in willingness to pay estimates in discrete choice models," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 44(5), pages 847-863, September.
- Lars Hultkrantz & Reza Mortazavi, 2001. "Anomalies in the Value of Travel-Time Changes," Journal of Transport Economics and Policy, University of Bath, vol. 35(2), pages 285-299, May.
- Creel, Michael D & Loomis, John B, 1991. "Confidence Intervals for Welfare Measures with Application to a Problem of Truncated Counts," The Review of Economics and Statistics, MIT Press, vol. 73(2), pages 370-73, May.
- John R. McKean & Richard G. Walsh & Donn M. Johnson, 1996. "Closely Related Good Prices in the Travel Cost Model," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 78(3), pages 640-646.
- 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.
- John C. Whitehead & Subhrendu K. Pattanayak & George L. Van Houtven & Brett R. Gelso, 2005. "Combining Revealed and Stated Preference Data to Estimate the Nonmarket Value of Ecological Services: An Assessment of the State of the Science," Working Papers 05-19, Department of Economics, Appalachian State University, revised 2007.
- 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.
- Shaw, Daigee, 1988. "On-site samples' regression : Problems of non-negative integers, truncation, and endogenous stratification," Journal of Econometrics, Elsevier, vol. 37(2), pages 211-223, February.
- 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), December.
- Danielle Hagerty & Klaus Moeltner, 2005. "Specification of Driving Costs in Models of Recreation Demand," Land Economics, University of Wisconsin Press, vol. 81(1).
- 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.
- Casey, James F. & Vukina, Tomislav & Danielson, Leon E., 1995.
"The Economic Value of Hiking: Further Considerations of Opportunity Cost of Time in Recreational Demand Models,"
Journal of Agricultural and Applied Economics,
Cambridge University Press, vol. 27(02), pages 658-668, December.
- Casey, James F. & Vukina, Tomislav & Danielson, Leon E., 1995. "The Economic Value Of Hiking: Further Considerations Of Opportunity Cost Of Time In Recreational Demand Models," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 27(02), December.
- Nancy E. Bockstael & Ivar E. Strand & W. Michael Hanemann, 1987. "Time and the Recreational Demand Model," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 69(2), pages 293-302.
- David A. Hensher, 2001. "Measurement of the Valuation of Travel Time Savings," Journal of Transport Economics and Policy, University of Bath, vol. 35(1), pages 71-98, January.
- 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.
- Dietrich Earnhart, 2004. "Time is Money: Improved Valuation of Time and Transportation Costs," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 29(2), pages 159-190, October.
- Cameron, A Colin & Trivedi, Pravin K, 1986. "Econometric Models Based on Count Data: Comparisons and Applications of Some Estimators and Tests," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 1(1), pages 29-53, January.
- W. Douglass Shaw, 1992. "Searching for the Opportunity Cost of an Individual's Time," Land Economics, University of Wisconsin Press, vol. 68(1), pages 107-115.
- Frank J. Cesario, 1976. "Value of Time in Recreation Benefit Studies," Land Economics, University of Wisconsin Press, vol. 52(1), pages 32-41.
- Grogger, J T & Carson, Richard T, 1991. "Models for Truncated Counts," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 6(3), pages 225-38, July-Sept.
- Englin, Jeffrey & Shonkwiler, J S, 1995. "Estimating Social Welfare Using Count Data Models: An Application to Long-Run Recreation Demand under Conditions of Endogenous Stratification and Truncation," The Review of Economics and Statistics, MIT Press, vol. 77(1), pages 104-12, February.
- Natalia N. Borisova & Allen C. Goodman, 2003. "Measuring the value of time for methadone maintenance clients: willingness to pay, willingness to accept, and the wage rate," Health Economics, John Wiley & Sons, Ltd., vol. 12(4), pages 323-334.
- Riccardo Scarpa & Mara Thiene & Tiziano Tempesta, 2007. "Latent class count models of total visitation demand: days out hiking in the eastern Alps," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 38(4), pages 447-460, December.
- Amoako-Tuffour, Joe & Martınez-Espineira, Roberto, 2008. "Leisure and the Opportunity Cost of Travel Time in Recreation Demand Analysis: A Re-Examination," MPRA Paper 8573, University Library of Munich, Germany.
- Alan Randall, 1994. "Difficulty with the Travel Cost Method," Land Economics, University of Wisconsin Press, vol. 70(1), pages 88-96.
- John Calfee & Clifford Winston & Randolph Stempski, 2001. "Econometric Issues In Estimating Consumer Preferences From Stated Preference Data: A Case Study Of The Value Of Automobile Travel Time," The Review of Economics and Statistics, MIT Press, vol. 83(4), pages 699-707, November.
When requesting a correction, please mention this item's handle: RePEc:eee:foreco:v:18:y:2012:i:4:p:303-317. 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: (Zhang, Lei)
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.