Difficulty with the Travel Cost Method
Instead of observable prices of recreational visits, travel cost method (TCM) researchers are obliged to substitute researcher-assigned visitation cost estimates. I argue that visitation costs are inherently subjective, but are ordinally measurable so long as the cost increases with distance travelled. It follows that traditional TCM yields only ordinally measurable welfare estimates. The household production function formulation of TCM "resolves" this problem only by imposing severe and untestable analytical restrictions. TCM cannot serve as a stand-alone technique for estimating recreation benefits; rather, it must be calibrated using information generated with fundamentally different methods.
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.
When requesting a correction, please mention this item's handle: RePEc:uwp:landec:v:70:y:1994:i:1:p:88-96. 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: ()
If references are entirely missing, you can add them using this form.