Carnarvon Gorge: a comment on the sensitivity of consumer surplus estimation

Beal’s (1995) method of estimating the value of Carnarvon Gorge for recreational use is re‐examined. When an inconsistency in her estimation procedure is corrected, the estimated value of Carnarvon Gorge for camping is found to be six times higher. The sensitivity of the estimate to the choice of functional form is examined, and standard errors and interval estimates for consumer surplus are provided. Comments are made about functional form choice and prediction in log‐log models.


Issue Date:
1998
Publication Type:
Journal Article
PURL Identifier:
http://purl.umn.edu/117233
Published in:
Australian Journal of Agricultural and Resource Economics, Volume 42, Issue 3
Page range:
249-261
Total Pages:
13




 Record created 2017-04-01, last modified 2017-08-26

Fulltext:
Download fulltext
PDF

Rate this document:

Rate this document:
1
2
3
 
(Not yet reviewed)