This paper examines whether travel cost models value transportation properly. It uses contingent behavior and contingent pricing analyses to explore the valuation of transport costs within the context of recreation demand. The contingent behavior analysis poses hypothetical increases in travel costs - travel distance and access fees - and examines the demand responses. In contrast, the `contingent pricing' analysis asks respondents to state the increase in travel costs that is consistent with certain reductions in recreation demand, in this case, reductions that eliminate demand. By comparing distance-related responses to fee-related responses, the two analyses estimate factors for testing and improving the valuation of transport costs. To achieve these ends, the two analyses also explore the valuation of time costs. (Author/publisher).
Samenvatting