IDEAS home Printed from https://ideas.repec.org/a/eee/ecanpo/v29y1999i1p31-44.html
   My bibliography  Save this article

Estimation of Community Values of Lakes: A Study of Lake Mokoan in Victoria, Australia

Author

Listed:
  • Herath, Gamini

    (La Trobe University, Albury)

Abstract

The recreation values of Lake Mokoan in Victoria were estimated in this study using the travel cost method and the contingent valuation method. Data were collected for both methods by personal interviews and four different values were estimated using variants of TCM and CVM. The TCM gave smaller estimates of consumers' surplus over the CVM. There were differences between the estimated values in the different variants of the same method. The lower values from the TCM may be due to the local origin of the users of the lake. The CVM gave a value of $61,100 and $82,900 for the open-ended and the dichotomous choice models. These values can be used as the upper and lower bounds for planning purposes. Conclusions were drawn on the maximum amount that could be spent in renovating the lake to make it fit for recreation by computing the present value of the estimated annual benefits. This study demonstrates that even if differences arise in estimates, they provide useful information and insight for lake management.

Suggested Citation

  • Herath, Gamini, 1999. "Estimation of Community Values of Lakes: A Study of Lake Mokoan in Victoria, Australia," Economic Analysis and Policy, Elsevier, vol. 29(1), pages 31-44, March.
  • Handle: RePEc:eee:ecanpo:v:29:y:1999:i:1:p:31-44
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0313592699500039
    Download Restriction: Full text for ScienceDirect subscribers only
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

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


    Cited by:

    1. Karnowahadi Karnowahadi & Indah Susilowati & Purbayu Budi Santosa, 2015. "Economic Valuation Of Cultural Heritage In Surakarta City, Central Java-Indonesia," Proceedings of International Academic Conferences 2704849, International Institute of Social and Economic Sciences.
    2. Dyack, Brenda & Connor, Jeffery D. & Hatton MacDonald, Darla, 2005. "Screening options and setting priorities for River Murray floodplains," 2005 Conference (49th), February 9-11, 2005, Coff's Harbour, Australia 137858, Australian Agricultural and Resource Economics Society.
    3. Star, Megan & Rolfe, John & Brown, Julia, 2020. "From farm to fork: Is food tourism a sustainable form of economic development?," Economic Analysis and Policy, Elsevier, vol. 66(C), pages 325-334.
    4. Stuart Cooper, 2007. "Stakeholder Performance Measurement: General Approaches and Methods of Economic Evaluation (English Version)," EKONOMIAZ. Revista vasca de Economía, Gobierno Vasco / Eusko Jaurlaritza / Basque Government, vol. 65(02), pages 260-283.
    5. Tisdell, Clem & Wilson, Clevo, 2002. "World Heritage Listing of Australian Natural Sites: Tourism Stimulus and Its Economic Value," Economic Analysis and Policy, Elsevier, vol. 32(2), pages 27-49, June Spec.
    6. Marini Govigli, Valentino & Górriz-Mifsud, Elena & Varela, Elsa, 2019. "Zonal travel cost approaches to assess recreational wild mushroom picking value: Trade-offs between online and onsite data collection strategies," Forest Policy and Economics, Elsevier, vol. 102(C), pages 51-65.
    7. Gamini Herath & John Kennedy, 2004. "Estimating the Economic Value of Mount Buffalo National Park with the Travel Cost and Contingent Valuation Models," Tourism Economics, , vol. 10(1), pages 63-78, March.
    8. Prabha Prayaga & John Rolfe & Jack Sinden, 2006. "A Travel Cost Analysis of the Value of Special Events: Gemfest in Central Queensland," Tourism Economics, , vol. 12(3), pages 403-420, September.
    9. George Halkos & Aikaterini Leonti & Eleni Sardianou, 2020. "Assessing the Preservation of Parks and Natural Protected Areas: A Review of Contingent Valuation Studies," Sustainability, MDPI, vol. 12(11), pages 1-24, June.

    More about this item

    Keywords

    Contingent Valuation; Recreation;

    JEL classification:

    • Q25 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Water
    • Q26 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Recreational Aspects of Natural Resources

    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:eee:ecanpo:v:29:y:1999:i:1:p:31-44. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/economic-analysis-and-policy .

    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.