IDEAS home Printed from https://ideas.repec.org/a/cvv/journ6/v4y2017i1p70-76.html

Estimating Recreational Value of the Foy's Lake: An Application of Travel Cost Count Data Model for Truncated Zeros

Author

Listed:
  • Md. Touhidul ALAM

    (Dhaka School of Economics, University of Dhaka, Bangladesh.)

  • Anis-ul-ekram CHOWDHURY

    (Dhaka School of Economics, University of Dhaka, Bangladesh.)

  • Md. Sajib HOSSAIN

    (Dhaka School of Economics, University of Dhaka, Bangladesh.)

Abstract

To estimate the annual recreational value provided by the Foy’s Lake, using the most applicable model for on-site data, is the main objective of this study. To adhere to the objective of this study, individual travel cost method (ITCM) has been applied and zero truncated poisson regression model has been found plausible among other models to estimate the consumer surplus. Based on the estimate, the consumer surplus or recreational benefits per trip per visitor can be recommended as BDT 5,875 or US $ 73.44 and counting the consumer surplus per trip per visitor, the annual recreational value (total consumer surplus) provided by the lake is found to be BDT 321 million or US $ 40.2 million.

Suggested Citation

  • Md. Touhidul ALAM & Anis-ul-ekram CHOWDHURY & Md. Sajib HOSSAIN, 2017. "Estimating Recreational Value of the Foy's Lake: An Application of Travel Cost Count Data Model for Truncated Zeros," Journal of Economics Bibliography, EconSciences Journals, vol. 4(1), pages 70-76, March.
    • Handle: RePEc:cvv:journ6:v:4:y:2017:i:1:p:70-76
    as

    Download full text from publisher

    File URL: http://econsciences.com/index.php/JEB/article/download/1240/1263
    Download Restriction: no
    File URL: http://econsciences.com/index.php/JEB/article/view/1240
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    ;
    ;
    ;
    ;

    JEL classification:

    • C24 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Truncated and Censored Models; Switching Regression Models; Threshold Regression Models
    • Q26 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Recreational Aspects of Natural Resources
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cvv:journ6:v:4:y:2017:i:1:p:70-76. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Bilal KARGI (email available below). General contact details of provider: https://journals.econsciences.com/index.php/JEB .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.