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WORKSHOP

WORKSHOP. THE ECONOMIC VALUE OF THE BAT CAVE IN TAMBO, ISLAND GARDEN CITY OF SAMAL ( IGACoS ): A Travel Cost Approach Introduction to Shazam. Project Site. Project Site. The largest colony of Geoffroy’s Rousette Fruit Bats ( Rousettus Amplexicaudatus ). Objectives of the Study.

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WORKSHOP

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  1. WORKSHOP • THE ECONOMIC VALUE OF THE BAT CAVE IN TAMBO, ISLAND GARDEN CITY OF SAMAL (IGACoS): A Travel Cost Approach • Introduction to Shazam

  2. Project Site

  3. Project Site The largest colony of Geoffroy’sRousette Fruit Bats (RousettusAmplexicaudatus)

  4. Objectives of the Study • To estimate the demand function and identify the determinants of visitations to the recreation in the bat cave; and • To estimate the economic value of the bat cave.

  5. Conceptual Framework

  6. Sample Selection and Survey • The study used a systematic random sampling wherein Saturday and Sunday visitors from January to February were chosen to compose the sample.

  7. Econometric Model where: - visit rate of individual I -cost of travel of individual I -socio-economic characteristics of visitors

  8. Estimation of Parameters Use Shazam V. 11 to estimate the parameters of the model. Assignment: Discuss the results of the estimation based on the objectives of the study.

  9. Guide Questions • 1. What is the most appropriate functional form for TCM in this exercise? Why? (Show your results in tabular form that shows estimated coefficients, standard errors, and , of different functional forms and Discuss). • 2. What are the significant determinants of visitation to Monfort Bat Cave? • 3. Report the demand equation of the bat cave . • 4. Using the double-log functional form, compute the individual’s economic value of Monfort Bat Cave. • 5. Suppose the annual total visits in Monfort Bat Cave is 55,778 visitors, compute the total economic value of the resource.

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