VALUING IDAHO WINERIES WITH A TRAVEL COST MODEL

Stacie Woodall, Philip Wandschneider (), John C. Foltz and Garth Taylor

No 36613, 2002 Annual Meeting, July 28-31, 2002, Long Beach, California from Western Agricultural Economics Association

Abstract: Many commercial wineries produce a dual product; commercial wine and wine tourism. Growth of wine tourism throughout the US has been phenomenal. In contrast to the price of wine, which is reflected in the market, the demand for wine tourism can be only ascertained with a shadow price for winery visitation. The demand for wine tourism visits for Canyon County in southern Idaho was estimated using the Travel Cost Method. The value of wine tourism in Canyon County was estimated to be $5.40 per person per trip and trip demand was highly inelastic at 0.5. Elasticities of other trip demand function variables were estimated and analyzed, with a view to informing the marketing of Idaho's emerging wine tourism industry.

Keywords: Community/Rural/Urban Development; Crop Production/Industries (search for similar items in EconPapers)
Pages: 19
Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:ags:waealb:36613

DOI: 10.22004/ag.econ.36613

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