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Leisure and the net opportunity cost of travel time in recreation demand analysis: An application to Gros Morne National Park

Author

Listed:
  • Joe Amoako-Tuffour

    (St. Francis Xavier University)

  • Roberto Martínez-Espiñeira

    (Memorial University of Newfoundland)

Abstract

Using count data models that account for zero-truncation, overdispersion, and endogenous stratification, we estimate the value of access to recreational parks. The focus is on the empirical estimation of the proportion of the wage rate that best approximates park visitors’ opportunity cost of travel time within the cost of their trip and its effects on estimated consumer surplus. The fraction of hourly earnings that corresponds to the opportunity cost of travel time is endogenously estimated as a function of visitor characteristics, rather than fixed exogenously. In this case, which deals with a relatively remote recreational site, the relevant opportunity cost of time for most visitors appears to represent a smaller fraction of their wage rate than commonly assumed in previous similar studies.

Suggested Citation

  • Joe Amoako-Tuffour & Roberto Martínez-Espiñeira, 2012. "Leisure and the net opportunity cost of travel time in recreation demand analysis: An application to Gros Morne National Park," Journal of Applied Economics, Universidad del CEMA, vol. 15, pages 25-49, May.
    • Handle: RePEc:cem:jaecon:v:15:y:2012:n:1:p:25-49
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    Cited by:

    1. Ivana Olecká & Ludmila Trochtová & Jiří Pospíšil & Helena Pospíšilová, 2022. "Social Networking as Leisure: An Attempt to Conceptualize Liquid Leisure," Sustainability, MDPI, vol. 14(9), pages 1-20, May.
    2. Federica Leone & Corrado Zoppi, 2019. "Local Development and Protection of Nature in Coastal Zones: A Planning Study for the Sulcis Area (Sardinia, Italy)," Sustainability, MDPI, vol. 11(18), pages 1-21, September.
    3. Heagney, E.C. & Rose, J.M. & Ardeshiri, A. & KovaÄ , M., 2018. "Optimising recreation services from protected areas – Understanding the role of natural values, built infrastructure and contextual factors," Ecosystem Services, Elsevier, vol. 31(PC), pages 358-370.
    4. Zandi Solmaz & Limaei Soleiman Mohammadi & Amiri Neda, 2018. "An economic evaluation of a forest park using the individual travel cost method (a case study of Ghaleh Rudkhan forest park in northern Iran)," Environmental & Socio-economic Studies, Sciendo, vol. 6(2), pages 48-55, June.
    5. King, Steven & Fraser, Iain, 2013. "Divestment of the English Forestry Estate: An economically sound choice?," Ecological Economics, Elsevier, vol. 88(C), pages 25-31.
    6. Farr, Marina & Stoeckl, Natalie, 2018. "Overoptimism and the undervaluation of ecosystem services: A case-study of recreational fishing in Townsville, adjacent to the Great Barrier Reef," Ecosystem Services, Elsevier, vol. 31(PC), pages 433-444.
    7. Boncinelli, Fabio & Riccioli, Francesco & Marone, Enrico, 2015. "Do forests help to keep my body mass index low?," Forest Policy and Economics, Elsevier, vol. 54(C), pages 11-17.
    8. Pelletier, Marie-Chantale & Heagney, Elizabeth & KovaÄ , Mladen, 2021. "Valuing recreational services: A review of methods with application to New South Wales National Parks," Ecosystem Services, Elsevier, vol. 50(C).
    9. Simões, Paula & Barata, Eduardo & Cruz, Luís, 2013. "Joint estimation using revealed and stated preference data: An application using a national forest," Journal of Forest Economics, Elsevier, vol. 19(3), pages 249-266.
    10. Pueyo-Ros, Josep & Garcia, Xavier & Ribas, Anna & Fraguell, Rosa M., 2018. "Ecological Restoration of a Coastal Wetland at a Mass Tourism Destination. Will the Recreational Value Increase or Decrease?," Ecological Economics, Elsevier, vol. 148(C), pages 1-14.
    11. Nicolas Borzykowski & Andrea Baranzini & David Maradan, 2017. "A travel cost assessment of the demand for recreationin Swiss forests," Review of Agricultural, Food and Environmental Studies, INRA Department of Economics, vol. 98(3), pages 149-171.
    12. Sabrina Lai & Federica Leone & Corrado Zoppi, 2018. "Implementing Green Infrastructures beyond Protected Areas," Sustainability, MDPI, vol. 10(10), pages 1-16, October.
    13. Mikołaj Czajkowski & Marek Giergiczny & Jakub Kronenberg & Jeffrey Englin, 2019. "The Individual Travel Cost Method with Consumer-Specific Values of Travel Time Savings," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 74(3), pages 961-984, November.
    14. Heagney, E.C. & Rose, J.M. & Ardeshiri, A. & Kovac, M., 2019. "The economic value of tourism and recreation across a large protected area network," Land Use Policy, Elsevier, vol. 88(C).
    15. Massimo Filippini & William Greene & Adan L. Martinez-Cruz, 2018. "Non-market Value of Winter Outdoor Recreation in the Swiss Alps: The Case of Val Bedretto," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 71(3), pages 729-754, November.
    16. Stephen Hynes & William Greene, 2016. "Preference Heterogeneity in Contingent Behaviour Travel Cost Models with On-site Samples: A Random Parameter vs. a Latent Class Approach," Journal of Agricultural Economics, Wiley Blackwell, vol. 67(2), pages 348-367, June.
    17. Sabrina Lai & Federica Leone & Corrado Zoppi, 2019. "Assessment of Municipal Masterplans Aimed at Identifying and Fostering Green Infrastructure: A Study Concerning Three Towns of the Metropolitan Area of Cagliari, Italy," Sustainability, MDPI, vol. 11(5), pages 1-17, March.
    18. Edwin Muchapondwa & Eyoual Demeke & Samson Mukanjari, 2018. "Recreation Demand and Optimal Pricing for International Visitors to Kruger National Park," Working Papers 743, Economic Research Southern Africa.
    19. Paul Hindsley & Craig E. Landry & Kurt Schnier & John C. Whitehead & Mohammadreza Zarei, 2021. "Joint Estimation of Revealed Preference Site Selection and Stated Preference Choice Experiment Recreation Data Considering Attribute NonAttendance," Working Papers 21-10, Department of Economics, Appalachian State University.
    20. Yoon Lee & Hwansuk Kim & Yongsuk Hong, 2016. "Revealed Preference and Effectiveness of Public Investment in Ecological River Restoration Projects: An Application of the Count Data Model," Sustainability, MDPI, vol. 8(4), pages 1-13, April.

    More about this item

    Keywords

    opportunity cost of travel time; endogenous stratification; on-site sampling; overdispersion; recreation demand; travel cost method;
    All these keywords.

    JEL classification:

    • Q24 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Land
    • Q26 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Recreational Aspects of Natural Resources

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