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Author Baron, Mira G. ♦ Blekhman, Liliya ♦ Scholar, Visiting
Source CiteSeerX
Content type Text
File Format PDF
Language English
Subject Domain (in DDC) Computer science, information & general works ♦ Data processing & computer science
Subject Keyword Demand Curve ♦ Simple Assumption ♦ Non-monetary Cost ♦ Total Cost ♦ Well-established Technique ♦ Park Include ♦ Fuel Cost ♦ Recreational Benefit ♦ Outdoor Recreation Park ♦ Low Value ♦ Outdoor Recreational Benefit ♦ Economic Benefit ♦ Accommodation Cost ♦ Major Benefit ♦ Equipment Cost ♦ Entrance Fee ♦ Road System ♦ Saved Time ♦ Pocket Expenditure ♦ Many Project ♦ Non-monetary Expenditure ♦ Travel Cost Method
Description The value of time is of importance in evaluating the benefits from outdoor recreation parks. Similarly, the question of the value of time is crucial in evaluating investments in the road system, where the major benefit is shortening the time spent by drivers and passengers. A low value for time will result in rejecting many projects on the ground that the benefits (the value of the saved time) are lower than the costs. The paper suggests an alternative to the methods used in evaluating time. If we evaluate the economic benefits of a park by revenues from entrance fees, we often receive a low value since entrance fees are relatively low (or don't exist). Travel Cost Method (TCM) is a well-established technique for valuing outdoor recreational benefits. In TCM we measure the total cost of the visit that includes monetary and non-monetary costs, and through simple assumptions we derive the demand curve for the site and can estimate recreational benefits. The costs of visit in a park include: (a) out of pocket expenditures: entrance fees, fuel costs, equipment costs, accommodation costs and (b) non-monetary expenditures: value of enjoyment or discomfort while travelling and value of time consumed in travel and
Educational Role Student ♦ Teacher
Age Range above 22 year
Educational Use Research
Education Level UG and PG ♦ Career/Technical Study
Learning Resource Type Article
Publisher Date 2002-01-01
Publisher Institution In North American Regional Science Meeting