The Travel Cost Model for Lake Recreation: A Comparison of Two Methods for Incorporating Site Quality and Substitution Effects

Peter P. Caulkins, Richard C. Bishop and Nicolaas W. Bouwes

American Journal of Agricultural Economics, 1986, vol. 68, issue 2, 291-297

Abstract: This paper empirically illustrates how different assumptions regarding recreationists' decision-making behavior affect the predicted changes in recreational activity given a water quality improvement. A multinomial logit model, which reallocates visits away from other sites to the improved site, predicts a smaller outward shift of the recreationist's demand curve than the more traditional travel cost model, which does not assume any reallocation of visits among sites.

Date: 1986
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Persistent link: https://EconPapers.repec.org/RePEc:oup:ajagec:v:68:y:1986:i:2:p:291-297.

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