Ovaskainen, Ville; Neuvonen, Marjo; Pouta, Eija - In: Journal of Forest Economics 18 (2012) 4, pp. 303-317
As the price of recreational visits is unobservable and commonly represented by researcher-assigned travel cost estimates, welfare change estimates generated by the travel cost method are ordinally measurable (Randall, 1994). For a potential solution to the resulting calibration problem we use...