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Uncertain Recreation Quality And Wildlife Valuation: Are Conventional Benefit Measures Adequate?

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  • Cory, Dennis C.
  • Colby, Bonnie G.
  • Carpenter, Edwin H.

Abstract

Theoretical 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.

Suggested Citation

  • Cory, Dennis C. & Colby, Bonnie G. & Carpenter, Edwin H., 1988. "Uncertain Recreation Quality And Wildlife Valuation: Are Conventional Benefit Measures Adequate?," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 13(02), December.
  • Handle: RePEc:ags:wjagec:32110
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    File URL: http://purl.umn.edu/32110
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    References listed on IDEAS

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    1. Marshall E. Blume & Frank Husic, "undated". "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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    Cited by:

    1. Kai-Lih Chen, 1999. "Measuring values of wetlands in Taiwan," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 2(1), pages 65-89, March.

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    Resource /Energy Economics and Policy;

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