IDEAS home Printed from https://ideas.repec.org/a/ags/wjagec/32405.html
   My bibliography  Save this article

Use Of Principal Component Attractiveness Indexes In Recreation Demand Functions

Author

Listed:
  • Wetzstein, Michael E.
  • Green, Richard D.

Abstract

The method of principal components is used to construct attractiveness indexes for existing and proposed wilderness areas in California. Rankings of areas based on this procedure are compared with those based on size and the subjective attractiveness index developed by the Forest Service. The derived indexes are then used to develop alternative opportunities variables that appear as explanatory variables in outdoor recreation demand functions. Results indicate that substantially better explanatory capacity can be achieved over alternative measures by including a competitive factor in the demand functions. The paper concludes by considering the substitution effects of introducing new wilderness areas into the system.

Suggested Citation

  • Wetzstein, Michael E. & Green, Richard D., 1978. "Use Of Principal Component Attractiveness Indexes In Recreation Demand Functions," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 3(1), pages 1-12, July.
    • Handle: RePEc:ags:wjagec:32405
    DOI: 10.22004/ag.econ.32405
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/32405/files/03010011.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.32405?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Cicchetti, Charles J & Fisher, Anthony C & Smith, V Kerry, 1976. "An Econometric Evaluation of a Generalized Consumer Surplus Measure: The Mineral King Controversy," Econometrica, Econometric Society, vol. 44(6), pages 1259-1276, November.
    2. Burt, Oscar R & Brewer, Durward, 1971. "Estimation of Net Social Benefits from Outdoor Recreation," Econometrica, Econometric Society, vol. 39(5), pages 813-827, September.
    3. Wickens, Michael R, 1972. "A Note on the Use of Proxy Variables," Econometrica, Econometric Society, vol. 40(4), pages 759-761, July.
    4. W. E. Johnston & V. S. Pankey, 1968. "Some Considerations Affecting Empirical Studies of Recreational Use," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 50(5), pages 1739-1744.
    5. Jack L. Knetsch, 1963. "Outdoor Recreation Demands and Benefits," Land Economics, University of Wisconsin Press, vol. 39(4), pages 387-396.
    6. Wayne E. Boyet & George S. Tolley, 1966. "Recreation Projection Based on Demand Analysis," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 48(4_Part_I), pages 984-1001.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Wetzstein, Michael E. & Ziemer, Rod F., 1982. "A Truncated Regression Model Of Recreation Demand For California Wilderness Areas," 1982 Annual Meeting, August 1-4, Logan, Utah 279126, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Wetzstein, Michael E. & Ziemer, Rod F., 1982. "A Truncated Regression Model Of Recreation Demand For California Wilderness Areas," 1982 Annual Meeting, August 1-4, Logan, Utah 279126, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    2. Asafu-Adjaye, J. & Boxall, P.C., 1989. "An Economic Assesment of the Value of Wildlife Resourves in Alberta," Project Report Series 232071, University of Alberta, Department of Resource Economics and Environmental Sociology.
    3. K. G. Willis & G. D. Garrod, 1991. "An Individual Travel‐Cost Method Of Evaluating Forest Recreation," Journal of Agricultural Economics, Wiley Blackwell, vol. 42(1), pages 33-42, January.
    4. Hof, John G. & Loomis, John B., 1983. "A Recreation Optimization Model Based On The Travel Cost Method," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 8(1), pages 1-10, July.
    5. Crooker, John R., 2007. "Nonparametric Bounds on Welfare with Measurement Error in Prices: Techniques for Non-Market Resource Valuation," Agricultural and Resource Economics Review, Cambridge University Press, vol. 36(2), pages 239-252, October.
    6. Cameron, Trudy Ann & James, Michelle D, 1987. "Efficient Estimation Methods for "Closed-ended' Contingent Valuation Surveys," The Review of Economics and Statistics, MIT Press, vol. 69(2), pages 269-276, May.
    7. Sutherland, Ronald J., 1982. "The Sensitivity Of Travel Cost Estimates Of Recreation Demand To The Functional Form And Definition Of Origin Zones," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 7(1), pages 1-12, July.
    8. Font, Antoni Riera, 2000. "Mass Tourism and the Demand for Protected Natural Areas: A Travel Cost Approach," Journal of Environmental Economics and Management, Elsevier, vol. 39(1), pages 97-116, January.
    9. LaFrance, Jeffrey T., 2008. "The structure of US food demand," Journal of Econometrics, Elsevier, vol. 147(2), pages 336-349, December.
    10. Bhattacharyya, Aditi & Kutlu, Levent & Sickles, Robin C., 2018. "Pricing Inputs and Outputs: Market prices versus shadow prices, market power, and welfare analysis," Working Papers 18-009, Rice University, Department of Economics.
    11. Milon, J. Walter, 1988. "Travel Cost Methods For Estimating The Recreational Use Benefits Of Artificial Marine Habitat," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 20(1), pages 1-15, July.
    12. Bruce R. Beattie & Jeffrey T. LaFrance, 2006. "The Law of Demand versus Diminishing Marginal Utility," Review of Agricultural Economics, Agricultural and Applied Economics Association, vol. 28(2), pages 263-271.
    13. Cullinan, John & Hynes, Stephen & O'Donoghue, Cathal, 2011. "Using spatial microsimulation to account for demographic and spatial factors in environmental benefit transfer," Ecological Economics, Elsevier, vol. 70(4), pages 813-824, February.
    14. Milon, J. Walter, . "Site Characteristics And Revealed Preferences For Outdoor Recreation," Northeastern Journal of Agricultural and Resource Economics, Northeastern Agricultural and Resource Economics Association, vol. 14(1), pages 1-4.
    15. Jeffrey T. LaFrance, 1991. "Consumer's Surplus versus Compensating Variation Revisited," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 73(5), pages 1496-1507.
    16. Garcia, Cristina, 1982. "Problems With The Treatment Of Time In The Travel Cost Method," Staff Papers 13408, University of Minnesota, Department of Applied Economics.
    17. Riera Font, A., 2000. "Valoración económica de los atributos ambientales mediante el método del coste de viaje," Estudios de Economia Aplicada, Estudios de Economia Aplicada, vol. 14, pages 173-198, Abril.
    18. Fisher, Anthony C & Peterson, Frederick M, 1976. "The Environment in Economics: A Survey," Journal of Economic Literature, American Economic Association, vol. 14(1), pages 1-33, March.
    19. Jeffrey LaFrance & Rulon Pope, 2008. "The Generalized Quadratic Expenditure System," Working Papers 2008-27, School of Economic Sciences, Washington State University.
    20. Ward, Frank A., 1980. "Some Welfare Economic Considerations In The Evaluation Of Recreation Benefits: The Case Of New Mexico Warmwater Reservoirs," 1980 Annual Meeting, July 27-30, Urbana-Champaign, Illinois 278483, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

    More about this item

    Keywords

    Resource /Energy Economics and Policy;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:wjagec:32405. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/waeaaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.