THE MILFORD TRACK: VALUATION ESTIMATES OF A RECREATION GOOD

This paper uses observations on visitation rates to estimate Clawson demand functions for a non-priced recreation commodity, namely, the Milford Track located in the Fiordland National Park of New Zealand. Different classes of user with potentially different demand elasticities are identified, and shadow prices consistent with revenue maximization of a discriminating and non-discriminatory monopolist tourist authority are estimated. Alternative maximum revenue and consumers' surplus valuations are presented which correspond to different concepts of measures of willingness to pay for use, including travel costs and the opportunity cost of time.


Issue Date:
1977-08
Publication Type:
Journal Article
DOI and Other Identifiers:
Record Identifier:
https://ageconsearch.umn.edu/record/22487
PURL Identifier:
http://purl.umn.edu/22487
Published in:
Australian Journal of Agricultural Economics, 21, 2
Page range:
97-110
Total Pages:
14




 Record created 2017-04-01, last modified 2020-10-28

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