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The Demand for Wine Tourism in Canyon County, Idaho AgEcon
Taylor, R. Garth; Woodall, Stacie; Wandschneider, Philip R.; Foltz, John C..
Many commercial wineries produce a dual product: commercial wine and wine tourism. Since Idaho wineries charge no entry price, wine tourism demand can only be ascertained with a shadow price for winery visitation. Demand for wine tourism visits for Canyon County in southern Idaho was estimated using the travel cost method. Trip demand was inelastic (-0.4 to -0.6) with respect to own price. The average value of Canyon County wine tourism ranged from $6 to $12 per person per trip, depending upon the assumed opportunity cost of travel time. Elasticities of tastes and preferences, closely related goods, and income were estimated with a view to understanding the market for Idaho's emerging wine tourism industry.
Tipo: Journal Article Palavras-chave: Travel cost model; Wine tourism; Wine marketing; Resource /Energy Economics and Policy.
Ano: 2004 URL: http://purl.umn.edu/8125
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An Improved Method for Calibrating Purchase Intentions in Stated Preference Demand Models AgEcon
Davies, Stephen P.; Loomis, John B..
The Orbit demand model allows the magnitude of the calibration to stated purchase intentions to vary based on the magnitude of the stated quantities. Using an empirical example of stated trips, we find that the extent of calibration varies substantially with less correction needed at small stated trips (–25%) but larger corrections at higher quantities of stated visits (–48%). We extend the Orbit model to calculate consumer surplus per stated trip of $26. Combining the calibrations in stated trips and value per trip, the Orbit model provides estimates of annual benefits from 60% to 111% less than the count data model.
Tipo: Journal Article Palavras-chave: Hypothetical bias; Orbit; Ordered probit model; Travel cost model; Recreation; Stated preference; Agribusiness; Agricultural Finance; Consumer/Household Economics; Demand and Price Analysis; Financial Economics; Food Consumption/Nutrition/Food Safety; Institutional and Behavioral Economics; Marketing; Production Economics; Productivity Analysis; Research Methods/ Statistical Methods; D12; H44; Q26; Q51.
Ano: 2010 URL: http://purl.umn.edu/100521
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THE ECONOMIC VALUE OF HIKING: FURTHER CONSIDERATIONS OF OPPORTUNITY COST OF TIME IN RECREATIONAL DEMAND MODELS AgEcon
Casey, James F.; Vukina, Tomislav; Danielson, Leon E..
The paper tests two alternative specifications for the opportunity cost of time in travel cost models. The standard travel cost survey design is enriched to include a contingent valuation type question about peoples' willingness to accept compensation to forgo a precisely defined recreational experience. It is hypothesized that individually revealed value of time more appropriately reflects the opportunity costs of time associated with a particular aspect of recreation than the wage rate which measures the trade-off between work and leisure generally. The results seem to indicate a better overall fit for the models with the elicited value of individual consumer's time than for the models with the more traditional hourly earnings (wage rates). The...
Tipo: Journal Article Palavras-chave: Recreation demand; Travel cost model; Value of time; Resource /Energy Economics and Policy.
Ano: 1995 URL: http://purl.umn.edu/15282
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The Role of On-Site Time in Recreational Demand for Wilderness AgEcon
Acharya, Ram N.; Hatch, L. Upton; Clonts, Howard A..
Treatment of time in travel cost models has been a source of contention among economists. The debate persists because welfare estimates, which are the principal objectives of these studies, are highly sensitive to the treatment of time. The present study examines the dual role of on-site time using evidence from two wilderness areas in Alabama. The empirical results comply with the theoretical expectation that on-site time is both a source of utility and cost. The exclusion of on-site time from demand functions results in biased parameter estimates. In particular, it yields smaller own-price coefficients and higher welfare estimates.
Tipo: Journal Article Palavras-chave: Full income; On-site time; Recreation demand; Travel cost model; C24; D60; J20; Q26.
Ano: 2003 URL: http://purl.umn.edu/37857
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Fire and Recreational Values in Fire-Prone Forests: Exploring an Intertemporal Amenity Function Using Pooled RP-SP Data AgEcon
Boxall, Peter C.; Englin, Jeffrey E..
An important consideration in managing fire-prone forests is the intertemporal impacts of forest fires. This analysis examines these impacts in a forest recreation setting by fitting a combined stated and revealed data set to explicitly model the effects of forest regrowth following a fire on recreation economic values. The results are particularly useful as they provide clear measures of the time path of recovery of forest amenity values following a fire.
Tipo: Journal Article Palavras-chave: Forest fire; Recreation valuation; Revealed preferences; Stated preference; Travel cost model; Resource /Energy Economics and Policy.
Ano: 2008 URL: http://purl.umn.edu/36703
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Estimating Travel Cost Model: Spatial Approach AgEcon
Kim, Seung Gyu; Bowker, James Michael; Cho, Seong-Hoon; Lambert, Dayton M.; English, Donald B.K.; Starbuck, C. Meghan.
Tipo: Working or Discussion Paper Palavras-chave: Travel cost model; Spatial analysis; Environmental Economics and Policy.
Ano: 2010 URL: http://purl.umn.edu/61774
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