Published online by Cambridge University Press: 19 October 2023
Benefit-cost practitioners in the mid twentieth century, forced by government agencies to value outdoor recreation, continued to struggle with how to do so. One outside expert, Harold Hotelling, recommended what became known as the travel cost model. This approach measures the demand for recreation based on how much people are willing to pay for a trip in terms of travel costs. It also measures the value of a trip in terms of consumer surplus, or the additional value recreationists have above the travel costs they pay. Although the method eventually became stardardized, it initially was received with skepticism and confusion. Consumer surplus was an archaic, theoretical construct with little grounding in realty. This chapter discusses how economists like Marion Clawson and Jack Knetsch overcame their skepticism.
To save this book to your Kindle, first ensure no-reply@cambridge.org is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.
Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.
Find out more about the Kindle Personal Document Service.
To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.
To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.