Exploring the shelf-life of travel cost methods of valuing recreation for benefits transfer
Xiaoyang He and
Resource and Energy Economics, 2021, vol. 63, issue C
This study tests the stability of willingness to pay (WTP) for recreational fishing over two decades based on three rounds of a representative angler survey conducted in New York State in 1988, 1996, and 2007. We employ the travel cost method (TCM) by using the repeated conditional logit and mixed logit models to estimate demand for daily fishing trips. Our estimates suggest that anglers’ WTP for fishing in 1988 and 1996 were similar, with values per trip at $35.2 and $36.4, respectively. However, there was a noticeable decrease in WTP, to $30.6, in 2007. This decrease is consistent with two salient features of the 2007 survey: (1) long-distance trips, such as those to the Great Lakes were less frequent, and (2) anglers were, on average, older than in previous surveys.
Keywords: travel cost method (TCM); recreational fishing value; temporal welfare transfer (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:resene:v:63:y:2021:i:c:s0928765518303130
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