Some Consumer Surplus Estimates for North Carolina Beaches
AbstractWe estimate consumer surplus of a beach day using the single-site travel cost method. Onsite visitation data for seven North Carolina beaches were collected between July and November of 2003. Two pooled count data models, corrected for endogenous stratification and truncation, are estimated to account for bias stemming from onsite sampling. One model pertains to beach visitors that make single day trips to the beach, while the other is for visitors that stay onsite overnight. In each model, we allow for heterogeneity across sites through intercept-shifting and demand slope-shifting dummy variables. Depending upon the site, the estimated net benefits of a day at a beach in North Carolina range between $11 and $80 for those users making day trips and between $11 and $41 for those users that stay onsite overnight. These estimates are of the same order of magnitude as the results from earlier studies using travel cost methods but are considerably larger than the previous findings based upon stated preference methods.
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Bibliographic InfoArticle provided by Marine Resources Foundation in its journal Marine Resource Economics.
Volume (Year): 20 (2005)
Issue (Month): 2 ()
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Web page: http://www.uri.edu/cels/enre/mre/mre.htm
travel cost; consumer surplus; beach access; Resource /Energy Economics and Policy; D12; D63; H31; Q26;
Find related papers by JEL classification:
- D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
- H31 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Household
- Q26 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Recreational Aspects of Natural Resources
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