Indian Journal of Economics and Development

The PDF file you selected should load here if your Web browser has a PDF reader plug-in installed (for example, a recent version of Adobe Acrobat Reader).

If you would like more information about how to print, save, and work with PDFs, Highwire Press provides a helpful Frequently Asked Questions about PDFs.

Alternatively, you can download the PDF file directly to your computer, from where it can be opened using a PDF reader. To download the PDF, click the Download link above.

Fullscreen Fullscreen Off


Background: Economic evaluation of non-market goods is challenging and can't be calculated using traditional method. In this study, Travel Cost Method (TCM) was used to evaluate the economic value of Foy's Lake of Chittagong.

Methods: A total of 200 respondents from the visitor of this lake were interviewed on the basis of day of visit (week day: 100, weekend: 100) using structured questionnaire. The collected data were analyzed using SPSS v 20 and R v 3.2.1.

Findings: A multiple regression model was developed using the analysis which had a R2 value of 0.084. Family size and Total cost of visitors were found significant with a p-value of 0.05. The estimated value for Foy's Lake for 2014 was worth 294165270 BDT (Bangladeshi Taka) (or 3792034.49 US $).

Applications: By applying the model, derived from this study can be used to assess the economic value by revealed preference method of artificial lakes in this region.


Keywords

Economic Evaluation, Travel Cost Method, Revealed Preference, Foy’s Lake.
User
Notifications