FAMILIAR AND FAVORITE SITES IN A RANDOM UTILITY MODEL OF BEACH RECREATION

Abstract

We estimate a random utility model of recreation demand accounting for choice set familiarity and favorite sites. Our approach differs from existing approaches by retaining all sites in estimating the parameters of site utility. Familiar and unfamiliar sites are specified with different utility functions. Favored sites are assumed to have higher utility than nonfavored sites in estimation.Resource /Energy Economics and Policy,