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Title
Team member names
Purpose
• Describe the purpose of the study (to
estimate the value of blankety blank, etc)
Theory
• A demand curve with trips on the
horizontal axis and travel costs on the
vertical, shift demand, define consumer
surplus etc.
Methods
• How did you collect your data?
• Describe the valuation methods/questions
used
Data
• Number of observations
• Descriptive statistics (mean, min, max,
standard deviation)
More Data
• Continue the previous slide
Statistical Results
• Discuss your statistical model with
numbers
Graphical Results
• If you can, graph your statistical model
Consumer Surplus
If you estimated a TCM model your
average consumer surplus is equal to the
following
• Linear model: CS = -x2/2b
• Semi-log model: CS = -x/b
• Double-log model:
– If b < -1: CS = -(P x Q)/(b + 1)
– If b > -1: CS = [1/(b + 1)] x [max(P) x min(Q) –
PQ]
Conclusions
• Tell us what you learned from this project