The Economic Value of Hiking: Further Considerations of Opportunity Cost of Time in Recreational Demand Models
This study found that hikers were willing to travel on average over four hours to visit the Grandfather Mountain Wilderness Preserve and its trail system, and did so five times per year. Although this study is old, it is one of the few with values specifically for a day of hiking, particularly in the southern U.S.
Citation
Casey, J., T. Vukina, and L. Danielson. 1995. “The Economic Value of Hiking: Further Considerations of Opportunity Cost of Time in Recreational Demand Models.” Journal of Agricultural and Applied Economics 27(2): 658-668.