Employing Travel Costs to Compare the Use Value of Competing Cultural Organizations

Jaap Boter, Jan Rouwendal and Michel Wedel
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Jaap Boter: Vrije Universiteit Amsterdam, Faculteit der Economische Wetenschappen en Econometrie (Free University Amsterdam, Faculty of Economics Sciences, Business Administration and Economitrics

No 11, Serie Research Memoranda from VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics

Abstract: Since recently, a number of studies have applied non-market valuation techniques to measure the value of cultural goods. All studies are single case applications and rely mostly on stated preferences, such as contingent valuation techniques. We compare the relative value of multiple, competing goods and show how revealed preferences, in particular travel costs, may be used for this. In addition, we account for heterogeneity. Using a unique transaction database with the visiting behavior of 80,821 Museum Cardholders to 108 Dutch museums, we propose a latent class application of a logit model to account for the different distances of museums to the population and for differences in willingness-to-travel.

Keywords: museums; non-market valuation; revealed preferences; travel cost method (search for similar items in EconPapers)
JEL-codes: D46 (search for similar items in EconPapers)
Date: 2004
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Citations: View citations in EconPapers (3)

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