Abstract
AbstractThe traditional travel cost model uses trips (or visits) as its measure of quantity and travel cost per trip (or visit) as its price. However, because many estimated demand curves do not hold visit length constant, they cannot be used to value increments of use. The simple repackaging model of Muellbauer, and Fisher and Shell is used to derive demand curves exhibiting constant visit length from demand curves exhibiting variable visit length. The former allow the marginal quantity valuations that are necessary for management decisions involving capacity or use.
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