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Closely Related Good Prices in the Travel Cost Model

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  • John R. McKean
  • Richard G. Walsh
  • Donn M. Johnson

Abstract

This travel cost demand study included prices for closely related goods such as money and time costs of on-site time, on-site purchases, and other trip activities. A disequilibrium labor market model was estimated. The sample was mainly composed of persons who did not substitute earned income for leisure time. The few persons who had the capability to substitute time for money were excluded from the sample. Consumer surplus was estimated to be $69 per trip using the expanded model. A model using only the conventional travel cost variables resulted in estimated surplus per trip of $45. Copyright 1996, Oxford University Press.

Suggested Citation

  • 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.
  • Handle: RePEc:oup:ajagec:v:78:y:1996:i:3:p:640-646
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    File URL: http://hdl.handle.net/10.2307/1243281
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    Cited by:

    1. Woodall, Stacie & Wandschneider, Philip R. & Foltz, John C. & Taylor, R. Garth, 2002. "Valuing Idaho Wineries With A Travel Cost Model," 2002 Annual Meeting, July 28-31, 2002, Long Beach, California 36613, Western Agricultural Economics Association.
    2. Bengochea, A., 2003. "Valoración del uso recreativo de un espacio natural," Estudios de Economía Aplicada, Estudios de Economía Aplicada, vol. 21, pages 321-338, Agosto.
    3. McKean, John R. & Johnson, Donn M. & Taylor, R. Garth, 2001. "The Value Of Sport Fishing In The Snake River Basin Of Central Idaho," 2001 Annual Meeting, July 8-11, 2001, Logan, Utah 36190, Western Agricultural Economics Association.
    4. Ovaskainen, Ville & Neuvonen, Marjo & Pouta, Eija, 2012. "Modelling recreation demand with respondent-reported driving cost and stated cost of travel time: A Finnish case," Journal of Forest Economics, Elsevier, vol. 18(4), pages 303-317.
    5. Taylor, R. Garth & Woodall, Stacie & Wandschneider, Philip R. & Foltz, John C., 2004. "The Demand for Wine Tourism in Canyon County, Idaho," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association (IFAMA), vol. 7(04).
    6. Johnson, Donn M. & McKean, John R. & Taylor, R. Garth, 2000. "Estimating The Value Of Recreation On The Snake River Reservoirs Using A Disequilibrium Travel Cost Model," 2000 Annual Meeting, June 29-July 1, 2000, Vancouver, British Columbia 36523, Western Agricultural Economics Association.

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