Values of Travel Time for Recreational Trips under Different Behavioural Rules

Rosa González (), Concepción Román and Ángel Simón Marrero
Additional contact information
Concepción Román: Institute of Tourism and Sustainable Economic Development, Universidad de Las Palmas de Gran Canaria, 35001 Las Palmas de Gran Canaria, Spain
Ángel Simón Marrero: Institute of Regional Development, Universidad de La Laguna, 38200 San Cristóbal de La Laguna, Spain

Sustainability, 2021, vol. 13, issue 12, 1-16

Abstract: In this study, discrete choice models that combine different behavioural rules are estimated to study the visitors’ preferences in relation to their travel mode choices to access a national park. Using a revealed preference survey conducted on visitors of Teide National Park (Tenerife, Spain), we present a hybrid model specification—with random parameters—in which we assume that some attributes are evaluated by the individuals under conventional random utility maximization (RUM) rules, whereas others are evaluated under random regret minimization (RRM) rules. We then compare the results obtained using exclusively a conventional RUM approach to those obtained using both RUM and RRM approaches, derive monetary valuations of the different components of travel time and calculate direct elasticity measures. Our results provide useful instruments to evaluate policies that promote the use of more sustainable modes of transport in natural sites. Such policies should be considered as priorities in many national parks, where negative transport externalities such as traffic congestion, pollution, noise and accidents are causing problems that jeopardize not only the sustainability of the sites, but also the quality of the visit.

Keywords: value of time; discrete choice models; random regret minimization; random utility maximization; revealed preferences (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/2071-1050/13/12/6831/pdf (application/pdf)
https://www.mdpi.com/2071-1050/13/12/6831/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:13:y:2021:i:12:p:6831-:d:576333

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().