The Effects of Variable Omission in the Travel Cost Technique.
The travel cost technique is probably the most widely used method for estimating outdoor recreation demand functions. Specification errors, due to the omission of travel time and congestion effects, have received the most recent attention-with the consensus being that the travel cost technique under...
| Publicado en: | Land Economics Vol. 57; no. 2; pp. 173 - 181 |
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| Autores principales: | , , |
| Formato: | Artículo |
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University of Wisconsin Press
May81
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=hlh&AN=5362230&site=ehost-live header: @attributes: shortDbName: hlh uiTerm: 5362230 longDbName: Humanities International Complete uiTag: AN controlInfo: bkinfo: jinfo: jid: 00237639 LAE jtl: Land Economics issn: 00237639 maglogo: N pubinfo: dt: May81 vid: 57 iid: 2 pid: 249 pub: University of Wisconsin Press artinfo: ui: 5362230 10.2307/3145784 ppf: 173 ppct: 8 formats: tig: atl: The Effects of Variable Omission in the Travel Cost Technique. aug: au: Allen, P. Geoffrey Stevens, Thomas H. Barrett, Scott A. affil: Department of Food and Resource Economics, University of Massachusetts, Amherst. su: Travel costs Elasticity (Economics) Outdoor recreation Nature Demand function Consumers' surplus Recreation areas Instrumental variables (Statistics) Mathematical models of economics Econometric models Massachusetts United States sug: subj: Massachusetts United States Travel costs Elasticity (Economics) Outdoor recreation Nature Demand function Consumers' surplus Recreation areas Instrumental variables (Statistics) Mathematical models of economics Econometric models ab: The travel cost technique is probably the most widely used method for estimating outdoor recreation demand functions. Specification errors, due to the omission of travel time and congestion effects, have received the most recent attention-with the consensus being that the travel cost technique underestimates the true value of recreational resources if these variables are omitted. The potential effect of the exclusion of both the travel time and congestion variables may be evaluated by regarding the problem as one of omitted variables in a misspecified demand function. The economically efficient use of a natural environment requires a balancing of the net returns to each of its possible uses. The resource allocation decision depends in part upon comparing recreational values with the value that could be derived from other uses (such as development). If recreational values are misestimated, the allocation of natural environments between preservation (recreation) and development uses may be incorrect. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: Y dt: @attributes: year: 1981 holdings: @attributes: islocal: N |
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