Recreational Fishing and the Benefits of Oyster Reef Restoration in the Chesapeake Bay
AbstractIn this paper, I use a travel cost model of recreation demand to analyze the economic benefits to the Bay's recreational fishermen from proposed oyster reef restoration programs. The model explicitly links historical oyster bottom conditions to recreational fishing catch to capture ecosystem and habitat benefits. I find that observed catch is indeed higher in areas associated with higher quality reef areas. This relationship enables the estimation of recreational fishing values for improved Bay habitat since fishermen value higher catches and restoration of oyster bottom will lead to higher quality reef areas hence higher catch. It should be noted that our model provides a reduced form relationship between catch, the underlying fish population, and habitat quality; however, recent work show that oyster bottom provide good foraging habitat for a number of species and may therefore act as attractors and perhaps may lead to larger numbers of striped bass in the future. We find that benefits from oyster reef restoration are measurable and can account for a substantial portion of the costs of restoration.
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Bibliographic InfoPaper provided by Department of Economics, College of William and Mary in its series Working Papers with number 01.
Length: 24 pages
Date of creation: 15 May 2004
Date of revision:
Recreational demand; Random utility modeling; Ecosystem restoration;
Find related papers by JEL classification:
- Q26 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Recreational Aspects of Natural Resources
- Q28 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Government Policy
- Q22 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Fishery
- Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
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- Hanemann, W. Michael, 1982. "Applied Welfare Analysis with Qualitative Response Models," Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series qt7982f0k8, Department of Agricultural & Resource Economics, UC Berkeley.
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