Combined revealed and stated preference model taking endogeneous estimation of time cost into consideration in environmental evaluation

CE and DCTCM are applied to evaluate the recreational demand. However, these models have some defects and the main issue is how to include the attribute of travel time into models. In this paper, original and proposed iterative combined models are applied. The iterative combined model has the structure to calculate the time cost endogenously. From empirical study, first, it is verified that CE model tends to overestimate the value and DCTCM cannot eliminate the co-linearity. Secondly, it is concluded that two combined models, particularly iterative combined model, are useful because of dissolving these defects and the issue of travel time. Copyright (C) 2001 IFAC.