Cuadernos de Economía
Print version ISSN 0121-4772
JAIME, Mónica M and TUDELA, Alejandro M. VALUING A WATER RECREATION FACILITY USING SEMI PARAMETRIC ESTIMATORS IN THE TRAVEL COST METHOD. Cuad. Econ. [online]. 2011, vol.30, n.55, pp. 217-233. ISSN 0121-4772.
The goal of this research is to estimate, using semi parametric (SNP) techniques, the recreational benefits related to one strategic ecosystem of high moors in Colombia. This technique was used during the travel cost method estimation process due to its flexibility. The chosen SNP technique corresponded to the Fourier flexible form, adjusting a Poisson model, such that the truncation and endogenous stratification biases in the data base could be taken into account. Consumer surplus for the estimated model represents just 47.1% of the surplus obtained using parametric models, for the same sample. Differences obtained when comparing these estimates suggest that SNP techniques should be considered during the decision making process when dealing with recreational sites.
Keywords : semi parametric estimators; bootstrap; truncate models; fourier series; travel cost method.