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"Estimation Community Values of Lakes: A Study of Lake Mokoan in Victoria, Australia": A Comment


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  • Cook, Averil

    (University of Queensland)


Herath in Vol 29, No 1 (1999) reports welfare estimates using two forms of travel cost methodology (zonal and individual) as well as contingent valuation methodology. This note examines: (a) internal inconsistencies in the stage 1 estimation (of both the zonal and individual travel cost methodology), and the computation of number of visitors per year, and (b) methodological problems in the calculation of consumer surplus and the procedure used in the individual travel cost methodology. The note is concerned with practical estimation issues, not theoretical or econometric aspects.

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Bibliographic Info

Article provided by Queensland University of Technology (QUT), School of Economics and Finance in its journal Economic Analysis and Policy (EAP).

Volume (Year): 30 (2000)
Issue (Month): 1 (March)
Pages: 99-102

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Handle: RePEc:eap:articl:v:30:y:2000:i:1:p:99-102

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Cited by:
  1. Eva Vicente & Pablo de Frutos, 2011. "Application of the travel cost method to estimate the economic value of cultural goods: Blockbuster art exhibitions," Hacienda Pública Española, IEF, vol. 196(1), pages 37-63, january.


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