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Travel Cost Analysis of a Cultural Heritage Site: The Case of Historic St. Mary's City of Maryland

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  • P. Poor
  • Jamie Smith
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    Abstract

    Historic St. Mary's City located in rural southern Maryland, marks the 17th century British Colonial capital of the State of Maryland. As with most cultural heritage sites, Historic St. Mary's City can be classified as possessing public goods-type characteristics, and as such, welfare benefit estimates must utilize non-market valuation techniques. To date, the primary valuation methodology used for cultural heritage sites research involves stated preference methods. This study is one of the first to employ a revealed preference methodology, the zonal travel cost model, to estimate the consumer surplus welfare measures of a cultural heritage site. We analyze three years of visitor sample data to compare three functional forms of visitor demand. The average of the annual individual consumer surplus measures ranged from approximately $8.00 to $19.26, depending on the functional forms used. When aggregated to the total number of individual paid visitors, the average annual benefit estimates range from approximately $75,492 to $176,550. Copyright Kluwer Academic Publishers 2004

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    File URL: http://hdl.handle.net/10.1023/B:JCEC.0000038020.51631.55
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    Bibliographic Info

    Article provided by Springer in its journal Journal of Cultural Economics.

    Volume (Year): 28 (2004)
    Issue (Month): 3 (August)
    Pages: 217-229

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    Handle: RePEc:kap:jculte:v:28:y:2004:i:3:p:217-229

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    Web page: http://www.springerlink.com/link.asp?id=100284

    Related research

    Keywords: cultural heritage; historic archaeological site; travel cost model;

    References

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    1. John R. McKean & Donn M. Johnson & Richard G. Walsh, 1995. "Valuing Time in Travel Cost Demand Analysis: An Empirical Investigation," Land Economics, University of Wisconsin Press, vol. 71(1), pages 96-105.
    2. Hellerstein, Daniel, 1995. "Welfare Estimation Using Aggregate and Individual-Observations Models: A Comparison Using Monte Carlo Techniques," MPRA Paper 25267, University Library of Munich, Germany.
    3. W. Douglass Shaw, 1992. "Searching for the Opportunity Cost of an Individual's Time," Land Economics, University of Wisconsin Press, vol. 68(1), pages 107-115.
    4. Throsby,David, 2000. "Economics and Culture," Cambridge Books, Cambridge University Press, number 9780521586399, October.
    5. K. G. Willis & G. D. Garrod, 1991. "An Individual Travel-Cost Method Of Evaluating Forest Recreation," Journal of Agricultural Economics, Wiley Blackwell, vol. 42(1), pages 33-42.
    6. Loomis, John B. & Cooper, Joseph C., 1990. "Comparison Of Environmental Quality-Induced Demand Shifts Using Time-Series And Cross-Section Data," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 15(01), July.
    7. W. Douglass Shaw, 2002. "Testing the Validity of Contingent Behavior Trip Responses," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 84(2), pages 401-414.
    8. William J. Vaughan & Clifford S. Russell & Michael Hazilla, 1982. "A Note on the Use of Travel Cost Models with Unequal Zonal Populations: Comment," Land Economics, University of Wisconsin Press, vol. 58(3), pages 400-407.
    9. Peter Kennedy, 2003. "A Guide to Econometrics, 5th Edition," MIT Press Books, The MIT Press, edition 5, volume 1, number 026261183x, December.
    10. V. Kerry Smith, 1993. "Nonmarket Valuation of Environmental Resources: An Interpretive Appraisal," Land Economics, University of Wisconsin Press, vol. 69(1), pages 1-26.
    11. Jens B. Christensen & Colin Price, 1982. "A Note on the Use of Travel Cost Models with Unequal Zonal Populations: Comment," Land Economics, University of Wisconsin Press, vol. 58(3), pages 395-399.
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    Cited by:
    1. K. Willis & J. Snowball & C. Wymer & José Grisolía, 2012. "A count data travel cost model of theatre demand using aggregate theatre booking data," Journal of Cultural Economics, Springer, vol. 36(2), pages 91-112, May.
    2. Lyons, Sean & Mayor, Karen & Moro, Mirko & Tol, Richard S J, 2011. "Does the housing market reflect cultural heritage? A case study of Greater Dublin," Stirling Economics Discussion Papers 2011-07, University of Stirling, Division of Economics.
    3. Anna Alberini & Alberto Longo, 2006. "The Value of Cultural Heritage Sites in Armenia: Evidence From a Travel Cost Method Study," ERSA conference papers ersa06p487, European Regional Science Association.
    4. Lazrak, F. & Nijkamp, P. & Rietveld, P. & Rouwendal, J., 2009. "Cultural heritage and creative cities: an economic evaluation perspective," Serie Research Memoranda 0036, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
    5. Allan, Corey & Grimes, Arthur & Kerr, Suzi, 2013. "Value and Culture," Working Papers 13_09, Motu Economic and Public Policy Research.

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