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The Hedonic Travel Cost Method
Gardner Brown, Jr. and Robert Mendelsohn
The Review of Economics and Statistics
Vol. 66, No. 3 (Aug., 1984), pp. 427-433
Published by: The MIT Press
Stable URL: http://www.jstor.org/stable/1924998
Page Count: 7
You can always find the topics here!Topics: Prices, Travel expenses, Demand, Travel time, Market prices, Outdoor recreation, Recreation, Production functions, Public goods, Fishing
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The hedonic travel cost method is a technique which reveals how much users are willing to pay for the individual characteristics of outdoor recreation sites. The prices of recreation attributes are estimated by regressing travel costs on the bundles of characteristics associated with each of several potential destination sites. The demand for site characteristics on site quality is then revealed by comparing the site selection of users facing different attribute prices. The technique is applied to value steelhead fish density in Washington State streams.
The Review of Economics and Statistics © 1984 The MIT Press