Valuing a beach day using repeated nested logit model of participation and beach choice
Daniel K. Lew and
Douglas M. Larson
No 291742, Western Economic Association Conference Archive from Western Economic Association
Abstract:
Beach recreation values are often needed by policy-makers and resource managers to efficiently manage coastal resources, especially in popular coastal areas like Southern California. This paper presents welfare values derived from random utility maximization-based recreation demand models that explain an individual's decisions about whether or not to visit a beach and which beach to visit. The models are consistent with underlying time- and money-constrained choices and utilize labor market decisions to reveal each individual's opportunity cost of recreation time. The value of a beach day at San Diego County beaches is estimated to be between $21 and $26.
Keywords: Environmental Economics and Policy; Public Economics (search for similar items in EconPapers)
Pages: 32
Date: 2005-07
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Persistent link: https://EconPapers.repec.org/RePEc:ags:weaarc:291742
DOI: 10.22004/ag.econ.291742
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