A Travel Cost Analysis of the Value of Carnarvon Gorge National Park for Recreational Use
National parks as natural areas preserved from the more disruptive forms of economic activity provide a multitude of benefits to humankind, and these may be classified as either on-site use benefits or off-site benefits. This paper reports an applied case which is concerned with the measurement of the value of the recreational use benefits for one such national park. Whilst the national park is under no immediate threat, having an indication of the economic value of recreational opportunities within the park can aid future planning and decision-making. The emphasis in this study was to use and test TCM for rapid valuation appraisal. Demand curves for both camping and day visits are estimated. and consumer surplus calculated. A value of $40m. is estimated as the net present value of the recreational use alone in 1993-94 values at 6 per cent real rate of interest in perpetuity.
Volume (Year): 63 (1995)
Issue (Month): 02 (August)
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- 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.
- Robert Mendelsohn & John Hof & George Peterson & Reed Johnson, 1992. "Measuring Recreation Values with Multiple Destination Trips," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 74(4), pages 926-933.
- Abraham E. Haspel & F. Reed Johnson, 1982. "Multiple Destination Trip Bias in Recreation Benefit Estimation," Land Economics, University of Wisconsin Press, vol. 58(3), pages 364-372.
- 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.
- V. Kerry Smith, 1993. "Nonmarket Valuation of Environmental Resources: An Interpretive Appraisal," Land Economics, University of Wisconsin Press, vol. 69(1), pages 1-26.
- V. Kerry Smith & William H. Desvousges & Matthew P. McGivney, 1983. "The Opportunity Cost of Travel Time in Recreation Demand Models," Land Economics, University of Wisconsin Press, vol. 59(3), pages 259-278.
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