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Note on the Welfare Effects of Omitting Substitute Prices and Qualities from Travel Cost Models (A)

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  • Kling, Catherine L.

Abstract

The bias to welfare estimates from omitting substitute prices or qualities in travel cost models is examined. The presence of bias depends on whether single or multiple site changes are examined and the degree of correlation between the omitted and included prices. For a multiple site price or quality change, even when omitted price is uncorrelated with included price, welfare estimates may be biased. Alternatively, if omitted price is perfectly correlated, the welfare measure may not be biased. The presence of the bias depends equally on both the degree of correlation and whether a single or multiple change occurs.

Suggested Citation

  • Kling, Catherine L., 1989. "Note on the Welfare Effects of Omitting Substitute Prices and Qualities from Travel Cost Models (A)," Staff General Research Papers Archive 1593, Iowa State University, Department of Economics.
    • Handle: RePEc:isu:genres:1593
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    Cited by:

    1. Jeffrey Englin & Trudy Cameron, 1996. "Augmenting travel cost models with contingent behavior data," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 7(2), pages 133-147, March.
    2. Bowker, James Michael & Starbuck, C. Meghan & English, Donald B.K. & Bergstrom, John C. & Rosenberger, Randall S. & McCollum, Daniel W., 2009. "Estimating the Net Economic Value of National Forest Recreation: An Application of the National Visitor Use Monitoring Database," Faculty Series 59603, University of Georgia, Department of Agricultural and Applied Economics.
    3. von Haefen, Roger H., 2010. "Incomplete Demand Systems, Corner Solutions, and Welfare Measurement," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 39(1), pages 1-15, February.

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