A disadvantage of the travel cost method is that it estimates only existence value and not user value.

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Quizplus · Accepted Answer

The travel cost method actually estimates both existence value and user value. It calculates the consumer surplus, which is the difference between the amount people are willing to pay for the trip and the cost they actually incur. This consumer surplus represents the user value of the trip. However, it is true that the travel cost method may not be able to capture non-use values such as intrinsic value or bequest value.

A Disadvantage of the Travel Cost Method Is That It