Employing Travel Time to Compare the Value of Competing Cultural Organizations

Jaap Boter (), Jan Rouwendal and Michel Wedel

Journal of Cultural Economics, 2005, vol. 29, issue 1, 19-33

Abstract: A number of studies have applied non-market valuation techniques to measure the value of cultural goods. Virtually all of these 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 time, 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. Copyright Springer Science + Business Media, Inc. 2005

Keywords: museums; non-market valuation; revealed preferences; travel cost method (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (28)

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DOI: 10.1007/s10824-005-5796-2

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