Abstract
One benefit of managing forests is that one can alter the qualities of sites. The value of changing site qualities, however, is generally not known. This paper develops a formal hedonic travel cost model which can be used to estimate the value of both marginal and non-marginal changes to sites. The approach accommodates multiple simultaneous changes in site characteristics. Estimating this model using a set of permits from wilderness areas leads to revealed preference estimates of the recreational value of clear-cuts, old-growth, and nine other wilderness attributes.
Original language | English (US) |
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Pages (from-to) | 275-290 |
Number of pages | 16 |
Journal | Journal of Environmental Economics and Management |
Volume | 21 |
Issue number | 3 |
DOIs | |
State | Published - Nov 1991 |
Externally published | Yes |
ASJC Scopus subject areas
- Economics and Econometrics
- Management, Monitoring, Policy and Law