Methoden vergleichen

	Travel Cost Method	Hedonisches Preismodell
Fachgebiet	Volkswirtschaftslehre	Volkswirtschaftslehre
Familie	Process / pipeline	Regression model
Entstehungsjahr	1949	1974
Urheber	Harold Hotelling	Sherwin Rosen
Typ	Revealed preference recreation demand model	Revealed preference valuation method
Wegweisende Quelle	Hotelling, H. (1949). An Economic Study of the Monetary Valuation of Recreation in the National Parks. U.S. Department of Interior, National Park Service.	Rosen, S. (1974). Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition. Journal of Political Economy, 82(1), 34–55.
Aliasnamen	TCM, Recreation Demand Model, Zonal Travel Cost	Hedonic Regression, Characteristics Pricing Model
Verwandt	2	3
Zusammenfassung	The Travel Cost Method (TCM), developed by Harold Hotelling in 1949 and formalized by Marion Clawson and Jack Knetsch in the 1960s, is an econometric approach for valuing recreational sites and environmental amenities by inferring value from the travel costs (transportation, time, entry fees) that people incur to visit them. The core principle is that distance traveled and travel costs reveal how much people value a recreation site: those traveling far incur high costs, implying high value.	The hedonic pricing model, developed by Sherwin Rosen in 1974 and building on Kevin Lancaster's characteristics theory (1966), is an econometric method for valuing the implicit prices of product attributes by regressing market prices on observed characteristics. It reveals the trade-offs consumers are willing to make among product features and can be used to infer valuations of environmental amenities (e.g., air quality via house prices) and to adjust price indices for quality changes.