Category Archives: Recreation

Zone Definition and Travel Cost Valuations

Posted on June 21, 2016 by Adam Bailey

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 →

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The Value of Time in the Travel Cost Method

Posted on June 21, 2016 by Adam Bailey

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 →

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The Travel Cost Method – Some Pitfalls

Posted on June 21, 2016 by Adam Bailey

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 →

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Economics on the Beach

Posted on September 5, 2014 by Adam Bailey

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 →

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