travel cost method

Synonyms

travel cost analysis, Clawson Method

Definition

he travel cost method of economic valuation, travel cost analysis, or Clawson Method is a Revealed preference method of economic valuation used in cost benefit analysis to calculate the value of something that cannot be obtained through market prices (i.e. National Parks, Beaches, Ecosystems). The aim of the method is to calculate willingness to pay for a constant price facility.

Broader terms

positive models