Show Less

The New Economics of Outdoor Recreation

Edited by Nick Hanley, W. Douglass Shaw and Robert E. Wright

This innovative book presents a series of up-to-date analyses of the economics of outdoor recreation. The distinguished group of authors covers real-world recreation management issues and applies economic understanding to these problems. An extensive introduction by the editors details the historical background of economists’ interests in this subject, and reveals how economics can provide practical insights into improving how we manage our natural recreation areas.
Buy Book in Print
Show Summary Details
You do not have access to this content

Chapter 9: Perceptions versus Objective Measures of Environmental Quality in Combined Revealed and Stated Preference Models of Environmental Valuation

Wiktor Adamowicz, Joffre Swait and Peter C. Boxall


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 ϩ␧i 165 (9.1) 166 Forests where (Vi ) is the deterministic component and (␧i ) is an error component. While most...

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information

or login to access all content.