This paper incorporates a rich set of physical water quality attributes, as well as site and household characteristics, into a model of recreational lake usage in Iowa. Our analysis shows individuals are responsive to physical water quality measures and WTP estimates are reported based on...

This paper examines the potential for combining revealed and stated preference data on Iowa wetland usage, employing a flexible functional form representation of site-specific utility. We examine a variety of hypothesis tests regarding potential sources for inconsistency between stated and...

The US economy was hit hard by a recession during 2008–2009, which is considered the longest and most severe economic crisis since the end of Great Depression. The recession affected individual economic well-being through unemployment, stock market crashes, and falling real estate prices, all...

A new turn in the research agenda of environmental valuation is under way. Rather than treating stated preference (SP) and revealed preference (RP) as competing valuation techniques, analysts have begun to view them as complementary, where the strengths of each approach can be used to provide...

The focal point of the revealed preference (RP) valuation literature, including recreation demand and random utility maximization (RUM) models, has been on eliciting the “use” value associated with environmental amenities; i.e., that portion of value associated with direct use of a resource....