Non-Market Goods - Revealed Preferences - Hedonic Pricing Method
Methodology  -  Lake State Examples - Other Examples         
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Methodology:

Lake States Examples:

Monty, B. and M. Skidmore. 2003. "Hedonic Pricing and Willingness to Pay for Bed and Breakfast Amenities in Southeast Wisconsin." Journal of Travel Research 42(2):195-199.

This study is of the first to apply the technique of hedonic pricing to the tourism industry. The hedonic pricing model treats goods and services as providing a collection of characteristics and can be applied to a market for any differentiated product or service. Using data from bed and breakfast in Walworth County, Wisconsin the hedonic pricing model is used to reveal the willingness to pay for different amenities. While location is the largest determinant of price, some amenities are important determinants of willingness to pay. For example, a hot tub may add as much as $30 one is able to charge for a room in a bed and breakfast. Other important determinants include size of room and private bathroom.

Other Examples:

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