Toward A Value For Guided Rafting On Southern Rivers
This study examines per trip consumer surplus associated with guided whitewater rafting on two southern rivers. First, household recreation demand functions are estimated based on the individual travel cost model using truncated count data regression methods and alternative price specifications. Findings show mean per trip consumer surplus point estimates between $89 and $286, depending on modeling assumptions and river quality. Magnitudes of these surpluses are very dependent on assumptions about the opportunity cost of time.
Volume (Year): 28 (1996)
Issue (Month): 02 (December)
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- Hellerstein, Daniel, 1991. "Using Count Data Models in Travel Cost Analysis with Aggregate Data," MPRA Paper 25264, University Library of Munich, Germany.
- Alan Randall, 1994. "Difficulty with the Travel Cost Method," Land Economics, University of Wisconsin Press, vol. 70(1), pages 88-96.
- 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.
- Teasley, R. Jeff & Bergstrom, John C. & Cordell, H. Ken, 1994. "Estimating Revenue-Capture Potential Associated With Public Area Recreation," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 19(01), July.
- Shaw, Daigee, 1988. "On-site samples' regression : Problems of non-negative integers, truncation, and endogenous stratification," Journal of Econometrics, Elsevier, vol. 37(2), pages 211-223, February.
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