Eduardo L. Gimenez Fernandez (Departamento de Fundamentos de Analisis Economico e Historia Economica. Universidad de Vigo.) Manuel Gonzalez-Gomez (Departamento de Fundamentos de Analisis Economico e Historia Economica. Universidad de Vigo.)
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In this paper the efficient allocation of natural recreational areas is anal- ysed. Natural recreational areas have the features of public goods. We present the efficient allocation of this non-excludable public good in a rational general equilibrium model with heterogeneous agents. This allows us to deal with the free-rider problem in the provision of the public good. This framework could be considered as a microfoundation of the Lopez, Shah and Altobello (1994) model. In addition we study both the "existence" value and the "use" value of the recreational area in the same setting. A methodological critique is also made of previous empirical literature. It is suggested that our theoretical framework is a suitable starting point for further empirical research. Finally an empirical application for the Galician case is presented. Our results sug- gest that current allocations of land to natural recreational areas in Galiza are not efficient.
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Paper provided by IDEGA - Instituto Universitario de Estudios e Desenvolvemento de Galicia in its series Documentos de trabajo - Análise Económica with number
0015.