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
A busy beach offers an interesting economic case study. I recently spent a few days on holiday with my family in Barcelona. The weather was fine and each day we spent an hour or so on the beach. I observed … Continue reading
