Uncertain Recreation Quality And Wildlife Valuation: Are Conventional Benefit Measures Adequate?
AbstractTheoretical issues and empirical approaches are discussed for benefit estimation when wildlife resource users face uncertain recreation quality. It is argued that selection of an appropriate benefit measure is predicted upon differing attitudes toward quality uncertainty, expected utility maximization, and risk. In particular, it is shown that for specific groups in the user population, conventional benefit measures do not apply, and alternative welfare measures are developed. Implications for restructuring contingent valuation procedures are discussed.
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Bibliographic InfoArticle provided by Western Agricultural Economics Association in its journal Western Journal of Agricultural Economics.
Volume (Year): 13 (1988)
Issue (Month): 02 (December)
Resource /Energy Economics and Policy;
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- Marshall E. Blume & Frank Husic, . "Price, Beta and Exchange Listing," Rodney L. White Center for Financial Research Working Papers 9-72, Wharton School Rodney L. White Center for Financial Research.
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