Variation in the economic value of visitation at Monocacy National Battlefield

Authors: Wyatt Harris, Richard T. Melstrom, Lopamudra Chakraborti and Chris A. B. Zajchowski

Abstract

This paper examines the economic value of recreation at Monocacy National Battlefield in 2006 and 2021, during which visitation increased substantially. We estimate visitors’ willingness-to-pay using the travel cost method and visitor survey data from both years. We find willingness-to-pay of about $10 per trip in 2006 and $31 per trip in 2021. While our study does not identify the specific drivers of this shift, it does show that visitor valuations can change meaningfully depending on time or survey method.

Read it Here