IDEAS home Printed from https://ideas.repec.org/a/uwp/landec/v70y1994i1p88-96.html
   My bibliography  Save this article

Difficulty with the Travel Cost Method

Author

Listed:
  • Alan Randall

Abstract

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.

Suggested Citation

  • Alan Randall, 1994. "Difficulty with the Travel Cost Method," Land Economics, University of Wisconsin Press, vol. 70(1), pages 88-96.
  • Handle: RePEc:uwp:landec:v:70:y:1994:i:1:p:88-96
    as

    Download full text from publisher

    File URL: http://www.jstor.org/stable/pdfplus/3146443
    Download Restriction: A subscripton is required to access pdf files. Pay per article is available.

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. 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: (). General contact details of provider: http://le.uwpress.org/ .

    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.

    We have no references for this item. You can help adding them by using 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 RePEc Author Service 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.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.