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 = -x 2 /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