Abstract
A two-step decision travel cost model is used to estimate the demand for sportfishing and to measure the effect of fishing tournaments on anglers' willingness-to-pay on the Lower Hudson River. The endogenous opportunity cost of angler travel time is incorporated in the demand function using a latent variable. The latent time value indicator is a count of the unique types of complementary and time-saving goods and services purchased during a fishing trip. Tournament fishing is valued at US$317 per angler per trip, compared to US$73 per angler per trip for other sportfishing.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
