ABSTRACT
In this chapter we provide an example of structurally combining revealed preference (RP) and stated preference (SP) data to address parameter estimation and the valuation of time in a recreation demand context. In particular, we combine observations on actual recreation site visitation with three forms of SP data that include future behavior at baseline conditions, contingent behavior at changed conditions, and contingent pricing (i.e. reporting a choke price). By integrating these data sources into a structural, two-constraint model of recreation demand we demonstrate the payoff to collecting RP and SP data that provide related, but distinctly different, vehicles for quantifying individuals’ preferences.
