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Using revealed and stated preference data to estimate the scope and access benefits associated with cave diving
Journal article   Peer reviewed

Using revealed and stated preference data to estimate the scope and access benefits associated with cave diving

O. Ashton Morgan and William L. Huth
Resource and energy economics, Vol.33(1), pp.107-118
2011
DOI: https://doi.org/10.1016/j.reseneeco.2010.01.005
Web of Science ID: WOS:000286999100007

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Abstract

In a single-site travel cost model framework, revealed and stated preference data are jointly estimated to provide the first use-value estimate associated with recreational cave diving. Focusing on one of Florida's first magnitude springs, we estimate average per-person per-trip use values of approximately $155, generating annual cave diving use values in the region of $1075. Further, in an investigation of potential site quality changes, we find that divers are sensitive to scope effects with an additional cave system increasing annual per-person use values by approximately $100, while improved access yields an additional $50 in per-person annual consumer surplus. Finally, three additional model specifications are estimated and indicate that divers use different travel cost preferences when assessing their revealed and stated preference trip counts but a single preference structure to evaluate site quality changes.

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