Econometric models for joint estimation of revealed and stated preference site- frequency recreation demand models
Introduction Whitehead, Pattanayak et al. (2008) review the strengths and weaknesses of joint estimation with revealed preference (RP) and stated preference (SP) data. In this chapter we explore stacked RP-SP econometric models for site-frequency demand estimation (as opposed to site choice models, valuation functions, or mixed models). Our focus is on SP data that reflect changes in exogenous contextual factors (such as environmental quality). We identify relative merits and demerits of each model, and illustrate each approach with a sample of North Carolina beach recreation data.