EconPapers    
Economics at your fingertips  
 

Combining Farrell Frontier and Hedonic Travel Cost Models for Valuing Estuarine Quality

V. Smith, Raymond B Palmquist and Paul Jakus ()

The Review of Economics and Statistics, 1991, vol. 73, issue 4, 694-99

Abstract: This paper extends the Brown-Mendelsohn hedonic travel cost model by estimating the travel cost function for each recreationist as a technically efficient frontier. It also constrains the marginal prices for desirable characteristics to be nonnegative. The model is used to value improvements in the quality of sport fishing in the Albemarle-Pamlico Estuary in North Carolina. The application compares the performance of the frontier hedonic travel cost with ordinary least squares estimates, and finds the former to be free of problems identified in the literature and to provide more plausible and robust benefit estimates for quality improvements. Copyright 1991 by MIT Press.

Date: 1991
References: Add references at CitEc
Citations: View citations in EconPapers (11) Track citations by RSS feed

Downloads: (external link)
http://links.jstor.org/sici?sici=0034-6535%2819911 ... 0.CO%3B2-W&origin=bc full text (application/pdf)
Access to full text is restricted to JSTOR subscribers. See http://www.jstor.org for details.

Related works:
Working Paper: Combining Farrell Frontier and Hedonic Travel Cost Models for Valuing Estuarine Quality (1990) Downloads
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:tpr:restat:v:73:y:1991:i:4:p:694-99

Ordering information: This journal article can be ordered from
https://mitpressjour ... rnal/?issn=0034-6535

Access Statistics for this article

The Review of Economics and Statistics is currently edited by Amitabh Chandra, Olivier Coibion, Bryan S. Graham, Shachar Kariv, Amit K. Khandelwal, Asim Ijaz Khwaja, Brigitte C. Madrian and Rohini Pande

More articles in The Review of Economics and Statistics from MIT Press
Bibliographic data for series maintained by Ann Olson ().

 
Page updated 2020-12-17
Handle: RePEc:tpr:restat:v:73:y:1991:i:4:p:694-99