Combining Observed and Contingente Travel Behaviour: The Best of Both Worlds?

Natural resources offer a wide range of benefits to society. But many of these resources can be irrevocably lost if active measures are not adopted. Considering that environmental protection endeavours involve opportunity costs, economic valuation is essential to inform policymakers about the full net benefits of alternative measures, mainly if they are not properly reflected in market prices. The literature on environmental valuation has been proliferating and significant developments have been achieved. Focusing on the methods used to evaluate the benefits related to the recreational use of natural areas, this paper explores the potential complementarity of approaches based on combined revealed and stated preferences techniques. We conclude that putting together the best of these both worlds imposes additional efforts that are worthwhile.