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Carnarvon Gorge: a comment on the sensitivity of consumer surplus estimation

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  • Chotikapanich, Duangkamon
  • Griffiths, William E.

Abstract

Beal’s (1995) method of estimating the value of Carnarvon Gorge for recreational use is re‐examined. When an inconsistency in her estimation procedure is corrected, the estimated value of Carnarvon Gorge for camping is found to be six times higher. The sensitivity of the estimate to the choice of functional form is examined, and standard errors and interval estimates for consumer surplus are provided. Comments are made about functional form choice and prediction in log‐log models.

Suggested Citation

  • Chotikapanich, Duangkamon & Griffiths, William E., 1998. "Carnarvon Gorge: a comment on the sensitivity of consumer surplus estimation," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 42(3), September.
  • Handle: RePEc:ags:aareaj:117233
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    References listed on IDEAS

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    1. Michael D. Creel, 1997. "Welfare Estimation Using The Fourier Form: Simulation Evidence For The Recreation Demand Case," The Review of Economics and Statistics, MIT Press, vol. 79(1), pages 88-94, February.
    2. Kling, Catherine L., 1989. "The Importance Of Functional Form In The Estimation Of Welfare," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 14(01), July.
    3. Rod F. Ziemer & Wesley N. Musser & R. Carter Hill, 1980. "Recreation Demand Equations: Functional Form and Consumer Surplus," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 62(1), pages 136-141.
    4. Fisher, Gordon R. & McAleer, Michael, 1981. "Alternative procedures and associated tests of significance for non-nested hypotheses," Journal of Econometrics, Elsevier, vol. 16(1), pages 103-119, May.
    5. V. Kerry Smith, 1988. "Selection and Recreation Demand," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 70(1), pages 29-36.
    6. Herriges, Joseph A. & Kling, Catherine L., 2003. "Recreation Demand Models," Staff General Research Papers Archive 10211, Iowa State University, Department of Economics.
    7. Creel, Michael D & Loomis, John B, 1991. "Confidence Intervals for Welfare Measures with Application to a Problem of Truncated Counts," The Review of Economics and Statistics, MIT Press, vol. 73(2), pages 370-373, May.
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    Cited by:

    1. Jeff Bennett, 2005. "Australasian environmental economics: contributions, conflicts and 'cop-outs' ," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 49(3), pages 243-261, September.
    2. Nicola Lansdell & Lata Gangadharan, 2003. "Comparing Travel Cost Models And The Precision Of Their Consumer Surplus Estimates: Albert Park And Maroondah Reservoir," Australian Economic Papers, Wiley Blackwell, vol. 42(4), pages 399-417, December.
    3. Wilson, Matthew A. & Hoehn, John P., 2006. "Valuing environmental goods and services using benefit transfer: The state-of-the art and science," Ecological Economics, Elsevier, vol. 60(2), pages 335-342, December.
    4. Muhammad Rafiq & Shafiqullah, 2007. "Demand Analysis of Recreation Visits to Chitral Valley: A Natural Resource Management Perspective," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 46(4), pages 971-984.
    5. Read, Michael & Sinden, Jack A. & Branson, Jane & Sturgess, Neil H., 1999. "Recreational use values for Victoria’s Parks," 1999 Conference (43th), January 20-22, 1999, Christchurch, New Zealand 124541, Australian Agricultural and Resource Economics Society.
    6. repec:eee:touman:v:60:y:2017:i:c:p:67-78 is not listed on IDEAS

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