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Author Limehouse, Frank F.
Source CiteSeerX
Content type Text
File Format PDF
Subject Domain (in DDC) Computer science, information & general works ♦ Data processing & computer science
Subject Keyword Golf Course ♦ Environmental Certification ♦ Audubon International Cooperative Sanctuary Program ♦ Audubon International Golf Course ♦ Regulatory Force ♦ Many Course Specific Characteristic ♦ United State ♦ Non-certified Course ♦ Marginal Benefit ♦ Certification Decision Model ♦ Market Setting ♦ Several Empirical Model ♦ Substantial Price Premium ♦ Demand Curve ♦ Structural Supply ♦ Standard Hedonic Pricing Model ♦ Procedure Reveal ♦ Marginal Cost ♦ Difference-in-difference Estimator ♦ Certified Course ♦ Drive Course
Abstract This analysis examines the market setting of environmental certification on golf courses. A database of over 16,000 golf courses in the United States, combined with data from the Audubon International Cooperative Sanctuary Program is used to estimate several empirical models. First, a standard hedonic pricing model shows a substantial price premium for fully certified Audubon International golf courses. Similarly, a difference-in-difference estimator shows that certified courses raised their greens-fees, on average, by more than non-certified courses between 1995 and 2002. A certification decision model is estimated to better understand the market forces that drive courses to certify. The results of this procedure reveal that, in addition to many course specific characteristics, political and regulatory forces may influence the decision of some courses to certify. Finally, structural supply and demand curves for golf are estimated to determine the influence of certification on these functions. The results show that the increase in marginal benefits as a result of certification are approximately equal to the increase in marginal costs.
Educational Role Student ♦ Teacher
Age Range above 22 year
Educational Use Research
Education Level UG and PG ♦ Career/Technical Study