USE OF PRINCIPAL COMPONENT ATTRACTIVENESS INDEXES IN RECREATION DEMAND FUNCTIONS

Michael E. Wetzstein and Richard D. Green

Western Journal of Agricultural Economics, 1978, vol. 03, issue 01, 12

Abstract: The method of principal components is used to construct attractiveness indexes for existing and proposed wilderness areas in California. Rankings of areas based on this procedure are compared with those based on size and the subjective attractiveness index developed by the Forest Service. The derived indexes are then used to develop alternative opportunities variables that appear as explanatory variables in outdoor recreation demand functions. Results indicate that substantially better explanatory capacity can be achieved over alternative measures by including a competitive factor in the demand functions. The paper concludes by considering the substitution effects of introducing new wilderness areas into the system.

Keywords: Resource/Energy; Economics; and; Policy (search for similar items in EconPapers)
Date: 1978
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://ageconsearch.umn.edu/record/32405/files/03010011.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ags:wjagec:32405

DOI: 10.22004/ag.econ.32405

Access Statistics for this article

More articles in Western Journal of Agricultural Economics from Western Agricultural Economics Association Contact information at EDIRC.
Bibliographic data for series maintained by AgEcon Search ().