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Valuing Idaho Wineries With A Travel Cost Model

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  • Woodall, Stacie
  • Wandschneider, Philip R.
  • Foltz, John C.
  • Taylor, R. Garth
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    Abstract

    Many commercial wineries produce a dual product; commercial wine and wine tourism. Growth of wine tourism throughout the US has been phenomenal. In contrast to the price of wine, which is reflected in the market, the demand for wine tourism can be only ascertained with a shadow price for winery visitation. The demand for wine tourism visits for Canyon County in southern Idaho was estimated using the Travel Cost Method. The value of wine tourism in Canyon County was estimated to be $5.40 per person per trip and trip demand was highly inelastic at 0.5. Elasticities of other trip demand function variables were estimated and analyzed, with a view to informing the marketing of Idaho's emerging wine tourism industry.

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    Bibliographic Info

    Paper provided by Western Agricultural Economics Association in its series 2002 Annual Meeting, July 28-31, 2002, Long Beach, California with number 36613.

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    Date of creation: 2002
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    Handle: RePEc:ags:waealb:36613

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    Related research

    Keywords: Community/Rural/Urban Development; Crop Production/Industries;

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    1. John R. McKean & Richard G. Walsh & Donn M. Johnson, 1996. "Closely Related Good Prices in the Travel Cost Model," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, Agricultural and Applied Economics Association, vol. 78(3), pages 640-646.
    2. Loomis, John B. & Gonzalez-Caban, Armando & Englin, Jeffrey E., 2001. "Testing For Differential Effects Of Forest Fires On Hiking And Mountain Biking Demand And Benefits," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 26(02), December.
    3. Cameron, Trudy Ann & Shaw, W. Douglass & Ragland, Shannon E. & Callaway, J. Mac & Keefe, Sally, 1996. "Using Actual And Contingent Behavior Data With Differing Levels Of Time Aggregation To Model Recreation Demand," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 21(01), July.
    4. 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.
    5. K. E. McConnell, 1999. "Household Labor Market Choices and the Demand for Recreation," Land Economics, University of Wisconsin Press, vol. 75(3), pages 466-477.
    6. Wilman, Elizabeth A., 1980. "The value of time in recreation benefit studies," Journal of Environmental Economics and Management, Elsevier, vol. 7(3), pages 272-286, September.
    7. Hellerstein, Daniel & Mendelsohn, Robert, 1993. "A Theoretical Foundation for Count Data Models," MPRA Paper 25265, University Library of Munich, Germany.
    8. Englin, Jeffrey & Shonkwiler, J S, 1995. "Estimating Social Welfare Using Count Data Models: An Application to Long-Run Recreation Demand under Conditions of Endogenous Stratification and Truncation," The Review of Economics and Statistics, MIT Press, vol. 77(1), pages 104-12, February.
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