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The contingent valuation and the travel cost methods applied to Mucubají Lake area

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  • José Miguel Sánchez

    (Departamento de Economía, Facultad de Ciencias Económicas y Sociales, Universidad de los Andes, Mérida, Venezuela.)

Abstract

Natural Resources and Environmental Services act as characterized public goods because they are sources of direct utility without any associated market with related prices. For instance, the recreational services of the natural parks are guaranteed to the visitors by an entrance payment ticket. The contingent valuation method and the travel cost method are used to define the variables referred to the visitors every season time and willingness to pay (WTP) in the Mucubají Lake area. The WTP average rose from Bs. 5.612,68 to Bs. 8.625,00 when the services were improved to the visitors. It was found that travel costs have a negative impact on the expected demand for trips to the Mucubají Lake area. Travel costs to an alternate site impact positively on that demand. Besides, female people and independent occupation have a big expected demand for every trip to the natural park.

Suggested Citation

  • José Miguel Sánchez, 2008. "The contingent valuation and the travel cost methods applied to Mucubají Lake area," Economía, Instituto de Investigaciones Económicas y Sociales (IIES). Facultad de Ciencias Económicas y Sociales. Universidad de Los Andes. Mérida, Venezuela, vol. 33(26), pages 119-150, july-dece.
    • Handle: RePEc:ula:econom:v:33:y:2008:i:26:p:119-150
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    References listed on IDEAS

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    1. Alan Randall, 1994. "Difficulty with the Travel Cost Method," Land Economics, University of Wisconsin Press, vol. 70(1), pages 88-96.
    2. Timothy C. Haab & Kenneth E. McConnell, 1996. "Count Data Models and the Problem of Zeros in Recreation Demand Analysis," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 78(1), pages 89-102.
    3. Nick Hanley & W. Douglass Shaw & Robert E. Wright (ed.), 2003. "The New Economics of Outdoor Recreation," Books, Edward Elgar Publishing, number 2712.
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    More about this item

    Keywords

    Contingent valuation; travel cost; environmental quality; Mucubají Lake; environment.;
    All these keywords.

    JEL classification:

    • Q26 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Recreational Aspects of Natural Resources

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