Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/89617
Authors: 
Fezzi, Carlo
Bateman, Ian J.
Ferrini, Silvia
Year of Publication: 
2013
Series/Report no.: 
Nota di Lavoro, Fondazione Eni Enrico Mattei 64.2013
Abstract: 
The opportunity Value of Travel Time (VTT) is one of the most important parts of the total cost of day-long recreational activities and arguably the most difficult to estimate. While numerous studies have criticized the use of salaries to proxy the relevant shadow values, a consensus on an alternative measure still has to emerge. This paper uses a revealed preference approach to estimate the VTT for recreational trips by modeling individuals' preferences for toll roads and deriving their willingness-to-pay to reduce travel time. Our case-study sites are three beaches located in the Italian Riviera Romagnola, whose road network is a mix of toll and free access roads. By carrying-out face-to-face interviews, we reconstruct respondents' routes, indentify their time-cost trade-offs and ultimately estimate their VTT. Results show considerable heterogeneity in values with the VTT for day-long recreational visits being significantly higher than the one of longer holidays.
Subjects: 
Value of Time
Value of Travel Time Savings
Recreation Demand Models
Revealed Preferences
Willingness to Pay Space
JEL: 
Q50
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.