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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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Category Archives: Recreation
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
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 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