Estimation of Recreation Benefits from Measured Utility Functions

P. A. Findlater and J. A. Sinden

American Journal of Agricultural Economics, 1982, vol. 64, issue 1, 102-109

Abstract: Indifference maps from two-attribute utility functions can provide demand curves to value the benefits of the attributes or goods. The Ramsey model is one method to estimate the functions, and an alternative related method is presented in this paper. A comparative estimation of a given recreation benefit indicates that the alternative may be a significant improvement over Ramsey. The alternative is simpler and faster. It is applied, apparently successfully, to estimate a five-good utility function. This function is then used as the objective function in a linear program to value changes in recreation benefit when substitute activities are introduced.

Date: 1982
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