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Multi-attribute revealed preference data is used to investigate the heterogeneity of tastes in a sample of kayakers, in relation to eleven whitewater sites in Ireland. The paper focuses on a comparison of the analysis of preference heterogeneity using a random parameter logit model and a latent...
Persistent link: https://www.econbiz.de/10008543386
We adapt the standard random utility model to take account of the heterogeneity of recreational preferences by using what we call a “clustered conditional logit framework”. By separating out our sample of whitewater kayakers into two exogenously identifiable groups (based on their skill...
Persistent link: https://www.econbiz.de/10008543402
The treatment of the opportunity cost of travel time and the measurement of travel costs in recreational demand modelling has been a contentious issue for many decades. This paper demonstrates how a potential wage rate can be used in the measurement of the opportunity cost of travel (leisure)...
Persistent link: https://www.econbiz.de/10008543408