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Article Details

Published Date: 11-01-2022
Author: Executive Compass

Travel cost method is an example of revealed preference valuation which estimates the use value of non-market goods, such as sites used for leisure and recreation, by assessing how much it costs individuals to access them. By establishing how much it costs the individual to access these sites e.g., a local football stadium or swimming pool, in terms of travel and time, a proxy for the value of the non-market good can be established.

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