THE TRAVEL COST DEMAND MODEL AS AN ENVIRONMENTAL POLICY ASSESSMENT TOOL: A REVIEW OF LITERATURE

Estimates of the benefits of environmental improvement, usually a nonmarket commodity, can be a valuable part of the information base for economically efficient environmental decision making. The objective of this paper is to review the literature of one class of nonmarket valuation methodologies based on observed consumption behavior subsumed under the term "travel cost demand models." Relative to travel cost demand models, we examine policy issues and underlying concepts focusing on choice theory and welfare evaluation. In addition, we identify major related empirical issues including demand specification, data problems, demand estimation, and welfare measurement. Unanswered questions may contribute to a research agenda.


Issue Date:
1986-12
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/32249
Published in:
Western Journal of Agricultural Economics, Volume 11, Number 2
Page range:
164-178
Total Pages:
15




 Record created 2017-04-01, last modified 2017-08-24

Fulltext:
Download fulltext
PDF

Rate this document:

Rate this document:
1
2
3
 
(Not yet reviewed)