Abstract:Abstract. We test the robustness of visitor dichotomous choice willingness to pay (WTP)for
IntroductionMany water resource trade-offs involve reducing water for recreation to augment municipal or irrigation supplies. Since public agencies often do not charge market clearing prices for access to rivers for recreation, economists estimate the value of river recreation using either revealed preference methods such as the travel cost method [Ward, 1983[Ward, , 1987 they have traded money the form of travel costs … Show more
“…If households did not perform this calculation, it could lead to overestimates of the actual amount of electricity they would consume at each price. However, Loomis and Gonzalez-Caban (1997) used stated preference methods to measure recreation values and asked a follow-up question that presented respondents with annual values implied by per-trip responses. Respondents then had the option to revise responses for the WTP per trip.…”
“…If households did not perform this calculation, it could lead to overestimates of the actual amount of electricity they would consume at each price. However, Loomis and Gonzalez-Caban (1997) used stated preference methods to measure recreation values and asked a follow-up question that presented respondents with annual values implied by per-trip responses. Respondents then had the option to revise responses for the WTP per trip.…”
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