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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, 2012-2022.
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Category Archives: Recreation
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
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
Economics on the Beach
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