Estimating Recreational Value of the Foy's Lake: An Application of Travel Cost Count Data Model for Truncated Zeros

• DOI: 10.1453/jeb.v4i1.1240
• Publication Date: 2017-03-22
• Authors: Md. Touhidul Alam; Anis-ul-ekram Cho...; Md. Sajib Hossain
• Keywords: Economic surplus; Visitor pattern; Value (mathematics)

Abstract. To estimate the annual recreational value provided by Foy’s Lake, using most applicable model for on-site data, is main objective of this study. adhere to study, individual travel cost method (ITCM) has been applied and zero truncated poisson regression found plausible among other models consumer surplus. Based on estimate, surplus or benefits per trip visitor can be recommended as BDT 5,875 US $ 73.44 counting visitor, (total surplus) lake 321 million 40.2 million. Keywords: Individual Travel Cost Method, Zero Truncated Poisson Regression Model, Endogenous Stratification, Consumer Surplus. JEL. C24, Q26, Q51.