COMBINING REVEALED AND STATED PREFERENCE METHODS FOR VALUING ENVIRONMENTAL AMENITIES

A stated preference model and a revealed preference model for recreati onal site choice are examined and compared. Both models are based on r andom utility theory and the data are obtained from the same individua ls. The stated preference model is based on the respondent's choice fr om hypothetical choice sets. Attributes in the stated preference model are based on the ranges of the actual levels of attributes in the rev ealed preference choice set and are presented to respondents using a f ractional factorial statistical design. The results show that while in dependently estimated models appear to reflect different underlying pr eferences, joint estimation of the model parameters, including estimat ion of the relative scale parameter, provides evidence that the underl ying preferences are in fact similar. Furthermore, combining the revea led and stated preference information yields other benefits in estimat ion. (C) 1994 Academic Press, Inc.