Estimating Recreation Preferences Using Hedonic Travel Cost and Random Utility Models

Linwood Pendleton and Robert Mendelsohn

Environmental & Resource Economics, 2000, vol. 17, issue 1, 89-108

Abstract: Over the last decade, several authors have questioned thevalidity of the hedonic travel cost model, arguing instead that the random utility model is a superior method forvaluing recreational site attributes. This paper demonstrates that the two methods emanate from a similar utilitytheoretic framework; yet in practice these methods differ in the assumptions made in their application.Constraining the underlying utility functions to be consistent, both models are applied to the valuation ofrecreational site attributes in the Southeastern United States. The way in which each method estimates preferencesfor site attributes is shown to depend critically on the method and the functional form of theunderlying utility function. Copyright Kluwer Academic Publishers 2000

Keywords: hedonic travel cost; RUM; recreation demand (search for similar items in EconPapers)
Date: 2000
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (13)

Downloads: (external link)
http://hdl.handle.net/10.1023/A:1008374423710 (text/html)
Access to full text is restricted to subscribers.

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:kap:enreec:v:17:y:2000:i:1:p:89-108

Ordering information: This journal article can be ordered from
http://www.springer. ... al/journal/10640/PS2

DOI: 10.1023/A:1008374423710

Access Statistics for this article

Environmental & Resource Economics is currently edited by Ian J. Bateman

More articles in Environmental & Resource Economics from Springer, European Association of Environmental and Resource Economists Contact information at EDIRC.
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().