Evaluation of the Gains from Combining Travel Cost and Contingent Valuation Data to Value Nonmarket Goods (An)

Catherine Kling

Staff General Research Papers Archive from Iowa State University, Department of Economics

Abstract: This paper provides a critical assessment of the improvements in precision and bias to welfare measures from combining contingent valuation and travel cost data. Simulation experiments are performed using a variation of the model first suggested by Cameron (1992a) with a focus on identifying likely lower bounds on these gains. In addition to examining single-bounded contingent valuation as a component of the combined model, this paper investigates additional gains that may accrue from employing a double-bounded variant of contingent valuation. Sizable gains in both bias and precision are found in the simulation experiments. The results suggest that additional investigation into these models is warranted.

Date: 1997-01-01
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Citations: View citations in EconPapers (33)

Published in Land Economics 1997, vol. 73, pp. 428-437

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Persistent link: https://EconPapers.repec.org/RePEc:isu:genres:1598

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