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Travel Cost Analysis of a Cultural Heritage Site: The Case of Historic St. Mary's City of Maryland

  • P. Poor
  • Jamie Smith
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    Historic St. Mary's City located in rural southern Maryland, marks the 17th century British Colonial capital of the State of Maryland. As with most cultural heritage sites, Historic St. Mary's City can be classified as possessing public goods-type characteristics, and as such, welfare benefit estimates must utilize non-market valuation techniques. To date, the primary valuation methodology used for cultural heritage sites research involves stated preference methods. This study is one of the first to employ a revealed preference methodology, the zonal travel cost model, to estimate the consumer surplus welfare measures of a cultural heritage site. We analyze three years of visitor sample data to compare three functional forms of visitor demand. The average of the annual individual consumer surplus measures ranged from approximately $8.00 to $19.26, depending on the functional forms used. When aggregated to the total number of individual paid visitors, the average annual benefit estimates range from approximately $75,492 to $176,550. Copyright Kluwer Academic Publishers 2004

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    File URL: http://hdl.handle.net/10.1023/B:JCEC.0000038020.51631.55
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    Article provided by Springer in its journal Journal of Cultural Economics.

    Volume (Year): 28 (2004)
    Issue (Month): 3 (August)
    Pages: 217-229

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    Handle: RePEc:kap:jculte:v:28:y:2004:i:3:p:217-229
    Contact details of provider: Web page: http://www.springerlink.com/link.asp?id=100284

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    1. Peter Kennedy, 2003. "A Guide to Econometrics, 5th Edition," MIT Press Books, The MIT Press, edition 5, volume 1, number 026261183x, June.
    2. K. G. Willis & G. D. Garrod, 1991. "An Individual Travel-Cost Method Of Evaluating Forest Recreation," Journal of Agricultural Economics, Wiley Blackwell, vol. 42(1), pages 33-42.
    3. Richard C. Ready & Ståle Navrud, 2002. "Methods for Valuing Cultural Heritage," Chapters, in: Valuing Cultural Heritage, chapter 2 Edward Elgar.
    4. 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.
    5. Jens B. Christensen & Colin Price, 1982. "A Note on the Use of Travel Cost Models with Unequal Zonal Populations: Comment," Land Economics, University of Wisconsin Press, vol. 58(3), pages 395-399.
    6. William J. Vaughan & Clifford S. Russell & Michael Hazilla, 1982. "A Note on the Use of Travel Cost Models with Unequal Zonal Populations: Comment," Land Economics, University of Wisconsin Press, vol. 58(3), pages 400-407.
    7. Hellerstein, Daniel, 1995. "Welfare Estimation Using Aggregate and Individual-Observations Models: A Comparison Using Monte Carlo Techniques," MPRA Paper 25267, University Library of Munich, Germany.
    8. V. Kerry Smith, 1993. "Nonmarket Valuation of Environmental Resources: An Interpretive Appraisal," Land Economics, University of Wisconsin Press, vol. 69(1), pages 1-26.
    9. repec:cup:cbooks:9780521586399 is not listed on IDEAS
    10. W. Douglass Shaw, 2002. "Testing the Validity of Contingent Behavior Trip Responses," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 84(2), pages 401-414.
    11. Loomis, John B. & Cooper, Joseph C., 1990. "Comparison Of Environmental Quality-Induced Demand Shifts Using Time-Series And Cross-Section Data," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 15(01), July.
    12. 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.
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