We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
Spatial Limits of the Travel Cost Model Revisited: Island Effects.
- Authors
Loomis, John B.; González, Juan Marcos; González-Caban, Armando
- Abstract
Travel cost modeling of sites occurring on small islands may violate the assumption that visitors can reveal their full WTP through their travel costs. This could bias downward valuation estimates from TCM. In our application to the Caribbean National Forest, the count data TCM yielded an average net WTP of $22 per trip. The dichotomous-choice CVM yielded an average net WTP of $96 per trip. Since previous research elsewhere shows equality of TCM and CVM WTP estimates, and the dichotomous choice CVM bid amounts are not constrained by island size, we surmise that the TCM WTP amounts are underestimates.
- Subjects
TRAVEL costs; COST estimates; ISLANDS; VALUATION; TRAVELERS
- Publication
Journal of Agricultural & Resource Economics, 2007, Vol 32, Issue 3, p564
- ISSN
1068-5502
- Publication type
Article