Comparing the Travel Cost Method and the Contingent Valuation Method ? An application of Convergent Validity Theory to the Recreational Value of Irish Forests
The purpose of this study is to check the monetary value of the recreational use of Irish forests using two different valuation methods on the one dataset ? the Travel Cost Method and the Contingent Valuation Technique ? and in doing so test convergent validity, i.e. whether they are consistent with each other. It is found that convergence cannot be established with this data. The Willingness-to-Pay for entrance responses are stationary and tend to cluster around IR£1 per adult equivalent per trip. The TCM results of consumer surplus, which should be the same as WTP, are more variable depending on which sample is analysed and range between IR£2.38 and IR£5.95 per adult equivalent per trip. No correlation between these two variables was found. It seems that there are problems in getting people to state their true WTP. This is possibly due to a misinterpretation of the question by respondents as well as a tendency to revert to a common number. It is also likely that respondents used their WTP answers to make a political statement against the expansion of forestland using agricultural land. Finally, forests in Ireland are regarded as public goods and consequently there exists a stance among users that access to them should be free of charge, which might explain the large number of protest bids.
|Date of creation:||Apr 2007|
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- Stephen Hynes & Cathal Buckley & Tom van Rensburg, 2006. "Agricultural versus Recreational Activity on Marginal Farm Land: A Discrete-Choice Model of Recreational Activity on Irish Farm Commonage," Working Papers 0603, Rural Economy and Development Programme,Teagasc.
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Elsevier, vol. 33(2), pages 237-250, May.
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- Ian Langford* & Areti Kontogianni & Mihalis Skourtos & Stavros Georgiou & Ian Bateman, 1998. "Multivariate Mixed Models for Open-Ended Contingent Valuation Data: Willingness To Pay For Conservation of Monk Seals," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 12(4), pages 443-456, December.
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- Richard Carson & Nicholas Flores & Norman Meade, 2001.
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Environmental & Resource Economics,
Springer;European Association of Environmental and Resource Economists, vol. 19(2), pages 173-210, June.
- Carson, Richard T & Flores, Nicholas A, 2000. "Contingent Valuation: Controversies and Evidence," University of California at San Diego, Economics Working Paper Series qt75k752s7, Department of Economics, UC San Diego.
- Jeon, Yongsik & Herriges, Joseph A., 2005.
"Convergent Validity of Contingent Behavior Responses in Models of Recreation Demand,"
Staff General Research Papers Archive
12473, Iowa State University, Department of Economics.
- Yongsik Jeon & Joseph Herriges, 2010. "Convergent Validity of Contingent Behavior Responses in Models of Recreation Demand," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 45(2), pages 223-250, February.
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