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Economic Values of Saginaw Bay Coastal Marshes

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Author Info
John C. Whitehead
Peter A. Groothuis
Rob Southwick
Pat Foster-Turley

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Abstract

We estimate the economic values of Saginaw Bay coastal marshes with multiple methods. First we estimate the value of coastal marsh recreation with two variations of the travel cost method: the single-site recreation demand model and the recreation site selection or random utility model. Using the single site model the current level of day trip recreation in the Saginaw Bay coastal marsh area is valued at almost $16 million each year. The present value is $239 million. Using the site selection travel cost model, an increase in 1125 acres of coastal marsh is valued at about $94,000 annually. The present value is $1.83 million. Willingness to pay for recreation and other values of coastal marsh protection is estimated using the contingent valuation method. The annual value of protection of 1125 acres of coastal marsh is $113,000. The present value is $2.2 million.

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File URL: http://econ.appstate.edu/RePEc/pdf/wp0610.pdf
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Paper provided by Department of Economics, Appalachian State University in its series Working Papers with number 06-10.

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Date of creation: 2006
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Handle: RePEc:apl:wpaper:06-10

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Postal: Thelma C. Raley Hall, Boone, North Carolina 28608
Phone: 828-262-2148
Fax: 828-262-6105
Web page: http://www.business.appstate.edu/departments/economics/
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Find related papers by JEL classification:
Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Cameron, Trudy Ann & James, Michelle D, 1987. "Efficient Estimation Methods for "Closed-ended' Contingent Valuation Surveys," The Review of Economics and Statistics, MIT Press, vol. 69(2), pages 269-76, May. [Downloadable!] (restricted)
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  2. Heberlein, Thomas A. & Wilson, Matthew A. & Bishop, Richard C. & Schaeffer, Nora Cate, 2005. "Rethinking the scope test as a criterion for validity in contingent valuation," Journal of Environmental Economics and Management, Elsevier, vol. 50(1), pages 1-22, July. [Downloadable!] (restricted)
  3. Woodward, Richard T. & Wui, Yong-Suhk, 2001. "The economic value of wetland services: a meta-analysis," Ecological Economics, Elsevier, vol. 37(2), pages 257-270, May. [Downloadable!] (restricted)
  4. John C. Whitehead & Timothy Haab & Ju-Chin Huang, . "Part-Whole Bias in Contingent Valuation: Will Scope Effects Be Detected with Inexpensive Survey Methods?," Working Papers 9707, East Carolina University, Department of Economics. [Downloadable!]
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  5. Gregory Poe & Jeremy Clark & Daniel Rondeau & William Schulze, 2002. "Provision Point Mechanisms and Field Validity Tests of Contingent Valuation," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 23(1), pages 105-131, September. [Downloadable!] (restricted)
  6. John C. Whitehead & Todd L. Cherry, 2004. "Mitigating the Hypothetical Bias of Willingness to Pay: A Comparison of Ex-Ante and Ex-Post Approaches," Working Papers 04-21, Department of Economics, Appalachian State University. [Downloadable!]
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  1. Steven B. Caudill & Peter A. Groothuis & John C. Whitehead, 2006. "Testing for Hypothetical Bias in Contingent Valuation Using a Latent Choice Multinomial Logit Model," Working Papers 06-09, Department of Economics, Appalachian State University. [Downloadable!]
  2. John C. Whitehead & Peter A. Groothuis & Rob Southwick, 2007. "Linking Recreation Demand and Willingness to Pay with the Inclusive Value: Valuation of Saginaw Bay Coastal Marsh," Working Papers 07-09, Department of Economics, Appalachian State University. [Downloadable!]
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