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Employing Travel Costs to Compare the Use Value of Competing Cultural Organizations

Author

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  • Boter, Jaap

    (Vrije Universiteit Amsterdam, Faculteit der Economische Wetenschappen en Econometrie (Free University Amsterdam, Faculty of Economics Sciences, Business Administration and Economitrics)

  • Rouwendal, Jan
  • Wedel, Michel

Abstract

Since recently, a number of studies have applied non-market valuation techniques to measure the value of cultural goods. All studies are single case applications and rely mostly on stated preferences, such as contingent valuation techniques. We compare the relative value of multiple, competing goods and show how revealed preferences, in particular travel costs, may be used for this. In addition, we account for heterogeneity. Using a unique transaction database with the visiting behavior of 80,821 Museum Cardholders to 108 Dutch museums, we propose a latent class application of a logit model to account for the different distances of museums to the population and for differences in willingness-to-travel.

Suggested Citation

  • Boter, Jaap & Rouwendal, Jan & Wedel, Michel, 2004. "Employing Travel Costs to Compare the Use Value of Competing Cultural Organizations," Serie Research Memoranda 0011, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
    • Handle: RePEc:vua:wpaper:2004-11
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    File URL: http://degree.ubvu.vu.nl/repec/vua/wpaper/pdf/20040011.pdf
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    References listed on IDEAS

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    Cited by:

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    2. Massiani, Jerome & Rosato, Paolo, 2008. "Using conjoint analysis to investigate preferences of inhabitants for the future of a greyfield area: an application to the Old Port in Trieste," European Transport \ Trasporti Europei, ISTIEE, Institute for the Study of Transport within the European Economic Integration, issue 39, pages 59-81.

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    More about this item

    Keywords

    museums; non-market valuation; revealed preferences; travel cost method;
    All these keywords.

    JEL classification:

    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory

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