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Recreation benefit estimation and forecasting: Implications of the identification problem
Author(s) -
Cicchetti C. J.,
Smith V. K.,
Knetsch J. L.,
Patton R. A.
Publication year - 1972
Publication title -
water resources research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.863
H-Index - 217
eISSN - 1944-7973
pISSN - 0043-1397
DOI - 10.1029/wr008i004p00840
Subject(s) - recreation , identification (biology) , estimation , supply and demand , computer science , operations research , schedule , economics , econometrics , microeconomics , engineering , biology , botany , management , political science , law , operating system
Recreation studies have in the past confused the terms demand and use. Demand refers to the schedule of quantities that the community will desire at all possible prices. Use or participation is the realization of both demand and supply considerations. Accordingly, a priori information in addition to the data must be supplied prior to the estimation of economic models of the recreation market. The identification problem assesses the sufficiency of such information. Since the type of information and the data themselves impose constraints on the specification, estimation, and use of economic models of the recreation market, a taxonomy of each applied study framed around a general equilibrium model of recreation decisions is presented, and the specific applied studies are discussed. A clear outline of the logical structure connecting the theoretical model with its empirical realization results from this taxonomy.