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Empirical evidence for large nonmarket values for water resources: TCM benefits estimates for Lake Powell

International Journal of Water

By:
and
https://doi.org/10.1504/IJW.2004.005524

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Abstract

The wide acceptance of travel cost method (TCM) nonmarket benefits estimates rests, in part, on the fact that it deploys data on actual expenditures – as opposed to hypothetical behaviour – to estimate benefits conferred. The data for the current analysis was gathered from a survey that was distributed on-site at Lake Powell in 1997. The Lake Powell survey data indicates that aggregate recreation expenditures for Lake Powell trips were a remarkable $291 million in 1997. Hence, TCM benefits estimates for Lake Powell are also notably high. We explore several policy and management implications of our estimates including the light these high values shed on recent large and highly controversial CVM benefits estimates at water based sites.

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Additional publication details

Publication type:
Article
Publication Subtype:
Journal Article
Title:
Empirical evidence for large nonmarket values for water resources: TCM benefits estimates for Lake Powell
Series title:
International Journal of Water
DOI:
10.1504/IJW.2004.005524
Volume:
2
Issue:
4
Year Published:
2004
Language:
English
Publisher:
Inderscience
Contributing office(s):
Fort Collins Science Center
Description:
18 p.
First page:
229
Last page:
246
Country:
United States
State:
Arizona, Utah
Other Geospatial:
Lake Powell