Toward A Value For Guided Rafting On Southern Rivers
AbstractThis study examines per trip consumer surplus associated with guided whitewater rafting on two southern rivers. First, household recreation demand functions are estimated based on the individual travel cost model using truncated count data regression methods and alternative price specifications. Findings show mean per trip consumer surplus point estimates between $89 and $286, depending on modeling assumptions and river quality. Magnitudes of these surpluses are very dependent on assumptions about the opportunity cost of time.
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Bibliographic InfoArticle provided by Southern Agricultural Economics Association in its journal Journal of Agricultural and Applied Economics.
Volume (Year): 28 (1996)
Issue (Month): 02 (December)
Consumer surplus; Count data; Guided rafting; Travel cost; Resource /Energy Economics and Policy;
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