Edited by Nick Hanley, W. Douglass Shaw and Robert E. Wright
Chapter 9: Perceptions versus Objective Measures of Environmental Quality in Combined Revealed and Stated Preference Models of Environmental Valuation
9. Perceptions versus objective measures of environmental quality in combined revealed and stated preference models of environmental valuation Wiktor Adamowicz, Joﬀre Swait, Peter C. Boxall, Jordan Louviere and Michael Williams 1. INTRODUCTION Interest in combining revealed preference (RP) and stated preference (SP) data has risen in transportation (Ben Akiva and Morikawa, 1990) and marketing (Swait and Louviere, 1993; Swait et al., 1994). There are few studies in environmental economics, however, that have combined these data sources to examine eﬀects of environmental quality change (Adamowicz et al., 1994; Cameron, 1992; Louviere, 1994). The advantages of combining RP and SP data include an increase in the amount of information available, the possibility of modelling ‘new goods’ (or goods with attribute levels outside the range of current levels), and the reduction in collinearity oﬀered by the SP statistical designs (Adamowicz et al., 1994). While these features represent signiﬁcant advantages in modelling the eﬀects of environmental quality changes on recreation demands, a number of important issues remain to be examined. One of the major issues is the use of objective versus perceptual measures of environmental quality. In this chapter we examine a set of RP, SP and combined models of recreational site choice in a random utility framework. In these models the choices are assumed to be independent and are based on the respective utilities an individual receives from sites in a set of available alternatives (the choice set). The utility associated with alternative i is: Ui ϭVi ϩi...
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