Measuring the Cost of Time in Recreation Demand Analysis: An Application to Sportfishing

McConnell, Kenneth E.; Strand, Ivar E.

doi:10.2307/1239822

Cited by 203 publications

(84 citation statements)

References 6 publications

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“…In behavioral research related to travel mode choice, one of the key variables often used is travel time (Ben-Akiva and Richards, 1976;Bolduc, 1999;Kraft and Kraft, 1974;Lave, 1969;McConnell and Strand, 1981;Quarmby, 1967). Travel time reflects the total time from original location to destination rather than terminal-to-terminal (Kraft and Kraft, 1974).…”

Section: -Travel Time Per Kilometermentioning

confidence: 99%

Estimation of travel mode choice for domestic tourists to Nha Trang using the multinomial probit model

Can

2013

Transportation Research Part A: Policy and Practice

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The purpose of this study is to examine how the characteristics of domestic tourists and attributes of travel modes influence the tourists' modal choice to Nha Trang, Vietnam by applying the multinomial probit model. The analysis is based on primary data surveyed from tourists visiting Nha Trang in March, 2011. A total of 402 valid samples were used from 554 initial samples. The study provides several important findings concerning tourists' modal choice. Travel time per kilometer, per-kilometer travel cost to income ratio, mode quality variables, and income are key elements in explaining the tourists' modal choice decision. In addition, tourists with a lower income tend to be more sensitive to change in per-kilometer cost. Furthermore, the high-income tourists are much more likely to choose plane or train rather than coach. Understanding the tourists' modal choice behavior may help tourism transport companies to develop appropriate marketing strategies.

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Section: -Travel Time Per Kilometermentioning

confidence: 99%

Estimation of travel mode choice for domestic tourists to Nha Trang using the multinomial probit model

Can

2013

Transportation Research Part A: Policy and Practice

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“…The travel time of the round trip spent at the destination site could be counted as one-third of the wage rate. Excluding the opportunity cost underestimates the travel cost and recreational benefits [44]. The estimation function overestimates the recreational benefits of omitting the variable of substitute site cost [45].…”

Section: Travel Cost Methodsmentioning

confidence: 99%

The Total Economic Value of Sport Tourism in Belt and Road Development—An Environmental Perspective

2018

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Abstract:The development of the belt and road region leads cities to significantly increase the amount of public expenditure on the new construction of facilities and infrastructure. Mass construction not only relies on many environmental resources, but might also destroy the local natural environment. In order to reveal the importance of the natural environment, this study explores the economic value of the natural landscape for sport tourism in Taiwan. While the concept of total economic value (TEV) is applied to the Sun-Moon Lake Swimming Carnival Event, the travel cost method (TCM) is adopted to estimate the use value for participants, and the double-bounded dichotomous contingent valuation method (CVM) and survival analysis are performed to evaluate the non-use value for the residents. The use value is on average NT$ 5668 for one participant. The median willingness to pay for the option value, existence value and bequest value of every resident is NT$433, NT$411 and NT$274, respectively.

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“…Bockstael, Strand and Hanemann (1987) suggested that the opportunity cost of time should be included and could be measured based on potential lost earnings [34]. Following the U.S. Water Resource Council (1983), this study employs a one-third-wage rate to convert travel time to dollars [35,36]. The second issue is the opportunity cost of substitute sites.…”

Section: Travel Cost Methodsmentioning

confidence: 99%

Estimating the Total Economic Value of Cultivated Flower Land in Taiwan

Huang

Wang

2015

Sustainability

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Many arable land areas have been converted to residential or business uses by Taiwan government authorities, because the low farmland value is associated with the low value of agricultural products. However, agriculture is multifunctional. This study investigates farmland value through Total Economic Value (TEV) for Tianwei Township, which is Taiwan's largest floral farmland region. Direct use value measures the floral products' output value and recreational benefit. Recreational benefit from visitors' flower sightseeing was measured by the travel cost method (TCM). Option value and non-use value, including bequest value and existence value, measure the residents' willingness to pay through the double-bounded dichotomous contingent valuation method (CVM). The results show that the total floral products' output is NT$1.441 billion in 2007, recreational benefit is roughly NT$17.757 billion. The intangible value of option value and non-use values are approximately between NT$5 million to 15 million. Therefore, ignoring various values of farmland might lead to an underestimation of farmland value.

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Measuring the Cost of Time in Recreation Demand Analysis: An Application to Sportfishing

Cited by 203 publications

References 6 publications

Estimation of travel mode choice for domestic tourists to Nha Trang using the multinomial probit model

Estimation of travel mode choice for domestic tourists to Nha Trang using the multinomial probit model

The Total Economic Value of Sport Tourism in Belt and Road Development—An Environmental Perspective

Estimating the Total Economic Value of Cultivated Flower Land in Taiwan

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