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Economic Values of Saginaw Bay Coastal Marshes

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

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.

Suggested Citation

  • John C. Whitehead & Peter A. Groothuis & Rob Southwick & Pat Foster-Turley, 2006. "Economic Values of Saginaw Bay Coastal Marshes," Working Papers 06-10, Department of Economics, Appalachian State University.
    • Handle: RePEc:apl:wpaper:06-10
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    References listed on IDEAS

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    2. 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 269-276, May.
    3. 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.
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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, Springer;European Association of Environmental and Resource Economists, vol. 23(1), pages 105-131, September.
    6. Champ, Patricia A. & Bishop, Richard C. & Brown, Thomas C. & McCollum, Daniel W., 1997. "Using Donation Mechanisms to Value Nonuse Benefits from Public Goods," Journal of Environmental Economics and Management, Elsevier, vol. 33(2), pages 151-162, June.
    7. 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.
    8. David Dickinson & Dee Von Bailey, 2004. "Willingness-to-Pay for Information: Experiex-post, have been developed to mitigate or eliminate the overstatement of hypothetical willingness to pay. The ex-ante approach addresses hypothetical bias i," Working Papers 04-21, Department of Economics, Appalachian State University.
    9. John C. Whitehead & Timothy C. Haab & Ju‐Chin Huang, 1998. "Part‐Whole Bias in Contingent Valuation: Will Scope Effects Be Detected with Inexpensive Survey Methods?," Southern Economic Journal, John Wiley & Sons, vol. 65(1), pages 160-168, July.
    10. John C. Whitehead & Timothy C. Haab & Ju-Chin Huang, 1998. "Part-Whole Bias in Contingent Valuation: Will Scope Effects Be Detected with Inexpensive Survey Methods?," Southern Economic Journal, John Wiley & Sons, vol. 65(1), pages 160-168, July.
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    Cited by:

    1. 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.
    2. Voltaire, Louinord & Donfouet, Hermann Pythagore Pierre & Pirrone, Claudio & Larzillière, Agathe, 2017. "Respondent Uncertainty and Ordering Effect on Willingness to Pay for Salt Marsh Conservation in the Brest Roadstead (France)," Ecological Economics, Elsevier, vol. 137(C), pages 47-55.
    3. 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.

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    JEL classification:

    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects

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