Estimating the economic value of an urban park. A systemic approach
Abstract
The economic value of urban parks is not explicit because these spaces have non-market value. Environmental Economics addresses the value estimation, either for their direct or indirect use, or simply for their existence and legacy. The objective of this work was to estimate the economic value of direct use of the Parque Central in Juarez, Mexico using the Travel Cost Method. A survey was conducted among adult users (n=388) to determine origin, travel time, time spent in the place and amount of consumption. An economic evaluation model was designed identifying the demand curves and the individual cost of the trip was determined at MX$228.96. The annual value of the park was estimated at MX$197 736 942.13. The value-cost ratio was estimated at 2.45. It is concluded that the systemic output-input approach is adequate to reveal the economic value of an urban park.
D.R. © Revista de Economía
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