A Difficulty with the Travel Cost Method

Valuing the Environment Through Contingent Valuation

“…31 The practical implications are that, when one values a program, it be placed in whatever sequence applies under the circumstances, and that one take care when extrapolating results in a benefits transfer exercise because the values might change with the difference in circumstances (Hoehn and Randall, 1989). 32 Revealed preference estimates are sensitive to the measurement of price, which is often uncertain and precarious for disaggregated commodities (Pratt, Wise and Zeckhauser, 1979;Randall, 1994). The price at which demand falls to zero, needed to estimate consumer's surplus, may lie outside the range of the observed data and be estimated inaccurately (for example, one knows travel cost only for participants, or one believes that participants and nonparticipants have different preferences).…”

Valuing forest recreation on the national level in a transition economy: The case of Poland

“…Zandersen et al (2007)). Further, it was not possible to control for the assumed researcher-assigned level of travel costs across the studies in the database (see Randall (1994)), or different forest characteristics or uses. Still, the aim has not been to conduct a thorough investigation of the relationship between GDP/Capita and TC CS 17 , but to illustrate and underline our point that benefit transfer of recreation values from Western Europe to Poland will be off the mark if proportionally (or otherwise) income-adjusted.…”

Yalova Termal Kaplıcaları’nın Rekreasyon ve Turizm Amaçlı Kullanımının Ekonomik Değerinin Seyahat Maliyeti Yöntemi İle Tespit Edilmesi

“…Fakat rekreasyon alanına ulaşım için harcanan zamanın fırsat maliyetinin, TSM'ye katılması konusunda genel bir anlaşma olmasına rağmen, ulaşım zamanının maliyeti belirsiz kalmaktadır (Randall, 1994). Yani, zamanın fırsat maliyetinin nasıl hesaplanacağı konusunda, henüz çok belirgin bir uzlaşma söz konusu değildir.…”