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This paper incorporates a rich set of physical water quality attributes, as well as site and household characteristics, into a model of recreational lake usage in Iowa. Our analysis shows individuals are responsive to physical water quality measures. Willingness-to-pay estimates are reported...
Persistent link: https://www.econbiz.de/10005786415
Random Utility Maximization (RUM) models of recreation demand are typically plaguedby limited information on environmental and other attributes characterizing the available sitesin the choice set. To the extent that these unobserved site attributes are correlated with theobserved characteristics...
Persistent link: https://www.econbiz.de/10009360721