Skip to main content

A welfare estimation of beach recreation with aggregate data

Buy Article:

$47.00 plus tax (Refund Policy)

A single-site travel cost recreation demand model for a representative agent visiting a beach is employed that uses an indirect utility function. Alternative specifications of the expected demand function are estimated with aggregate time-series data from a local beach park. The estimated parameters are used to compute the value of the consumer surplus. The recreational value of the park is expectedly sensitive to the functional form used. Also, own-price and income elasticities for various functional forms vary. The results from the Box-Cox procedure suggest that the semi-log function is the most appropriate for the data used in this study. Confidence intervals are calculated to deal with the reliability problem of the consumer surplus estimates. An alternative algorithm, which assumes omitted variable as the source of the error in the demand function, is also presented.
No Reference information available - sign in for access.
No Citation information available - sign in for access.
No Supplementary Data.
No Data/Media
No Metrics

Document Type: Research Article

Affiliations: Department of Economics and Finance, University of Southern Mississippi, 118 College Drive #5072, Hattiesburg, MS, 39406-0001, USA

Publication date: 2010-02-01

More about this publication?
  • Access Key
  • Free content
  • Partial Free content
  • New content
  • Open access content
  • Partial Open access content
  • Subscribed content
  • Partial Subscribed content
  • Free trial content
Cookie Policy
X
Cookie Policy
Ingenta Connect website makes use of cookies so as to keep track of data that you have filled in. I am Happy with this Find out more