The Capitalization of Wildlife Recreation Income into Farmland Values
AbstractWildlife recreation - hunting, fishing, and wildlife watching - appears to be an increasingly important pastime for many Americans. From 1991-2001, U.S. wildlife recreation expenditures surged from $77 billion to $108 billion in 2001 dollars. Land lease and ownership expenditures by wildlife recreation participants are also rising and appear to be capitalized into farmland values. This paper analyzes the impact of hunting lease rates on farmland values in Texas. The results indicate that counties with higher wildlife recreation income streams have higher land values.
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Bibliographic InfoArticle provided by Southern Agricultural Economics Association in its journal Journal of Agricultural and Applied Economics.
Volume (Year): 38 (2006)
Issue (Month): 03 (December)
farmland values; wildlife recreation; Land Economics/Use; Q15;
Find related papers by JEL classification:
- Q15 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Land Ownership and Tenure; Land Reform; Land Use; Irrigation; Agriculture and Environment
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