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

Aaron J. Douglas, Richard L. Johnson

Research output: Contribution to journalArticlepeer-review

1 Scopus citations

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.

Original languageEnglish (US)
Pages (from-to)229-246
Number of pages18
JournalInternational Journal of Water
Volume2
Issue number4
DOIs
StatePublished - Dec 1 2004

Keywords

  • Contingent valuation
  • Nonmarket
  • Statistical reliability
  • Travel cost method

ASJC Scopus subject areas

  • Geography, Planning and Development
  • Water Science and Technology
  • Management, Monitoring, Policy and Law

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