Category Archives: Recreation

The Marginal Value of Parks

Environmental valuation studies should be clearer as to whether the value they estimate is marginal value or something else.  The idea of a marginal quantity is one of the most-used in the economist’s toolkit.  In the theory of the firm, … Continue reading

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Behavioural Economics and Environmental Valuation

The behaviour on which revealed preference valuation methods are based almost inevitably results from thought processes involving bounded rationality.  What does that imply for such methods? The insights of behavioural economics have been applied to many sub-fields of economics, and … Continue reading

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Sensitivity to Zone Definition in the Zonal Travel Cost Method

How sensitive are regression estimates based on aggregated data, zonal travel cost datasets for example, to the particular form of aggregation?  Here I present an answer for one simple case. Originally posted 21/3/2016.  Re-posted following site reorganisation 21/6/2016. This is … Continue reading

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Precision in the Zonal Travel Cost Method – A Case Study

Zonal travel cost studies often rely on very small datasets. Conventional estimates of precision are unreliable in those circumstances. Originally posted 19/6/2015.  Re-posted following site reorganisation 21/6/2016. The zonal travel cost method (ZTCM) for estimating the use value of recreational … Continue reading

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