Value of recreational fishing in the Brazilian Pantanal: a travel cost analysis using count data models

Recreational fishing value of the Brazilian Pantanal is measured using travel cost method (TCM). We compare non-linear, Poisson and negative binomial count data models to estimate recreational fishing trip demands. The count data and truncated models are used primarily to account for non-negative integer and truncation properties of recreational fishing trips as suggested by the recreation valuation literature. The results reveal that non-linear and truncated count data models perform relatively well in our study. The economic values of recreational fishing in terms of consumer surplus (CS) are derived using non-linear and truncated models. We estimate the CS values from $540.54 to $869.57 per trip resulting in the total social welfare estimate range from $35 to $56 million. The study demonstrates a relatively high value of recreational fishing in the Pantanal in comparison to similar studies conducted in other parts of the world. The findings of this study would be important for resource management decisions in the Pantanal and could serve as a reference in valuing similar resources in other ecosystems around the world.