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A Hybrid Individual—Zonal Travel Cost Model for Estimating the Consumer Surplus of Golfing in Colorado

John Loomis, Omer Tadjion, Philip Watson (), Josh Wilson, Stephen Davies and Dawn Thilmany ()
Additional contact information
Omer Tadjion: Colorado State University
Josh Wilson: Management and Engineering Technologies International, Inc
Stephen Davies: Colorado State University

Journal of Sports Economics, 2009, vol. 10, issue 2, 155-167

Abstract: Although golf is a popular activity and significant industry, there is little known about the price elasticity of demand for golf, nor the benefits received by the golfers themselves. Using a survey of Colorado golfers at 19 golf courses and a relatively novel hybrid individual observation and zonal travel cost model, the authors find the demand for golf is quite price inelastic with respect to transportation costs (−.433) and green fees (−.115). The typical golfer spends $8 on transportation and $49 on green fees/ carts. The price inelastic demands translate into a consumer surplus of $18.44 per round of golf at Colorado golf courses. The annual net economic value to golfers in Colorado for the 7.8 million rounds of golf is $143.8 million. The authors find a ``U'' shaped quadratic relationship between age and golf demand, such that retirement age golfers take about 30% more trips than middle age golfers.

Keywords: consumer surplus; demand; green fees; price elasticity; travel cost method (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:sae:jospec:v:10:y:2009:i:2:p:155-167

DOI: 10.1177/1527002508320136

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