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Gauging The Value Of Short-Term Site Closures In A Travel-Cost Rum Model Of Recreation Demand With A Little Help From Stated Preference Data
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2011
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Series: DEL-SG ; 15-12
[PDF-822.94 KB]
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Description:Random Utility Models of recreation demand are well suited for valuing closure of sites and changes in the characteristics of sites such as an improvement in water quality or increase in fish catch. In these applications the welfare effects are realized through site substitution or the choice of taking no trip on a given choice occasion. Parameter estimates from the models are used to measure the decline in utility implied by substitution along these lines and the coefficient on a trip cost variable, in turn, is used to monetize the change in utility.
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Sea Grant Document Number:DELU-R-11-025
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Rights Information:Public Domain
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Compliance:Library
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