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Estimating Recreational Value of the Foy's Lake: An Application of Travel Cost Count Data Model for Truncated Zeros

Journal of Economics Bibliography

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Title Estimating Recreational Value of the Foy's Lake: An Application of Travel Cost Count Data Model for Truncated Zeros
 
Creator ALAM, Md. Touhidul;

Dhaka School of Economics, University of Dhaka

touhidul.alam@dsce.edu.bd; Tel.: +880-1916950860


CHOWDHURY, Anis-ul-ekram;

Dhaka School of Economics, University of Dhaka, Dhaka, Bangladesh. Email: anis.bfg@gmail.com, +880-1516146826 (Cell No.)


HOSSAIN, Md. Sajib;

Dhaka School of Economics, University of Dhaka, Dhaka, Bangladesh. Email: sajibeconbd@gmail.com, +880-1793059879 (Cell No.)
 
Subject Individual Travel Cost Method; Zero Truncated Poisson Regression Model; Endogenous Stratification; Consumer Surplus.
C24; Q26; Q51.
 
Description Abstract. To estimate the annual recreational value provided by the Foy’s Lake, using the most applicable model for on-site data, is the main objective of this study. To adhere to the objective of this study, individual travel cost method (ITCM) has been applied and zero truncated poisson regression model has been found plausible among other models to estimate the consumer surplus. Based on the estimate, the consumer surplus or recreational benefits per trip per visitor can be recommended as BDT 5,875 or US $ 73.44 and counting the consumer surplus per trip per visitor, the annual recreational value (total consumer surplus) provided by the lake is found to be BDT 321 million or US $ 40.2 million.Keywords: Individual Travel Cost Method, Zero Truncated Poisson Regression Model, Endogenous Stratification, Consumer Surplus.JEL. C24, Q26, Q51.
 
Publisher Journal of Economics Bibliography
 
Contributor —
 
Date 2017-03-22
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://www.kspjournals.org/index.php/JEB/article/view/1240
10.1453/jeb.v4i1.1240
 
Source Journal of Economics Bibliography; Vol 4, No 1 (2017): March; 70-76
2149-2387
 
Language eng
 
Relation http://www.kspjournals.org/index.php/JEB/article/view/1240/1475
http://www.kspjournals.org/index.php/JEB/article/downloadSuppFile/1240/594
http://www.kspjournals.org/index.php/JEB/article/downloadSuppFile/1240/595
http://www.kspjournals.org/index.php/JEB/article/downloadSuppFile/1240/596
http://www.kspjournals.org/index.php/JEB/article/downloadSuppFile/1240/597
 
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http://creativecommons.org/licenses/by-nc/4.0