Combining Revealed and Stated Preference Data to Estimate Recreation Demand

This paper explores the proper valuation of time when estimating recreational demand, where time costs represent a substantial portion of the Apurchase price@. To estimate demand, this paper uses travel cost analysis of revealed preference data and contingent behavior analysis of stated preference data. The contingent behavior analysis considers hypothetical increases in access fees, travel time, and travel distance. Based on responses to these contingencies, this analysis improves the valuation of time costs using the effect of increased access fees as the monetary benchmark. As evidence of improvement, adjusting time costs greatly increases the consistency between the revealed and stated data. Similarly, this paper improves the valuation of transportation-related costs.