This paper reports the results of a meta-analysis of the estimates of the price elasticity of demand for recreation sites using the travel cost method. By using econometric methods to summarize empirical literature, meta-analysis assists in identifying research conclusions despite the non-experimental nature of most empirical research in economics. In this application, the results suggest that modeling decisions based on theory, as well as those relying on fitting criteria, were important influences to the estimated price elasticities across studies.
ASJC Scopus subject areas
- Economics and Econometrics