The purpose of this study is to investigate the determinants that affect individual’s decision on whether or not to visit a winery in their state, and estimate the economic value that winery provide in terms of tourism. Survey data obtained from the residents in North Carolina, New York, and Virginia are used. First, a probit model is adopted to examine the factors that affect an individual’s decision whether or not to visit a winery in their state. Second, the economic value that wineries provide their visitors is derived from the winery trip demand that is estimated by a truncated negative binomial model. The consumer surplus estimates of visiting wineries are $28.9 per visit when the opportunity cost of time is not included, and $149.6 per visit when one-third of the wage rate is assumed as the opportunity cost of time.

Abstract
Introduction
Materials and Methods
    1. Data
    2. Model Specification
Results and Discussion
Acknowledgement
References

• Jeonghoi Heo(Senior Research Fellow, Korea Rural Economic Institute, Naju, 58321, Korea.) Corresponding author