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An environmental and natural resource economics blog by Adam Bailey (below). For details and profile see About.
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© Adam Bailey and Economic Droplets, 2012-2026.
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Author Archives: Adam Bailey
Zone Definition and Travel Cost Valuations
The literature on the zonal travel cost method (ZTCM) contains occasional suggestions that results can be sensitive to zone definition. My exploratory analysis strongly supports this view. Originally posted 14/5/2014 as “The Travel Cost Method – Another Pitfall”. Re-posted following … Continue reading
Making Sense of Replicability
A number of developments suggest a crisis in science associated with the requirement of replicability. The issues are complex, especially where scientific results include statistical estimates. Originally posted 13/1/2014. Re-posted following site reorganisation 21/6/2016. A widely accepted requirement of good … Continue reading
Posted in Scientific method
Tagged data reproducibility, replicability, reproducibility
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The Value of Time in the Travel Cost Method
Travel costs used in valuing recreational sites often include the value of travel time at around 1/3 of the wage rate. A recent study suggests the fraction should be higher, for some travellers at least. Originally posted 3/12/2013. Re-posted following … Continue reading
The Travel Cost Method – Some Pitfalls
The travel cost method is an essential tool in estimating the economic value of non-market recreational sites such as parks, but its application is rarely straightforward. Here are some of its pitfalls. Originally posted 11/8/2012. Re-posted following site reorganisation 21/6/2016. … Continue reading
