Bioeconomic Modeling of Wetlands and Waterfowl in Western Canada: Accounting for Amenity Values
This study extends an original bioeconomic model of optimal duck harvest and wetland retention by bringing in amenity values related to the nonmarket (in situ) benefits of waterfowl plsi the ecosystem values of wetlands themselves. The model maximizes benefits to hunters as well as the amenity values of ducks and ecosystem benefits of wetlands, subject to the population dynamics. Results indicate that wetlands and duck harvests need to be increased relative to historical levels. Further, the socially optimal ratio of duck harvest to wetlands is larger than what has been observed historically. Including amenity values leads to a significant increase in the quantity of wetlands and duck harvests relative to models that focus only on hunting values.
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Volume (Year): 59 (2011)
Issue (Month): (06)
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- Smith, Martin D. & Sanchirico, James N. & Wilen, James E., 2009. "The economics of spatial-dynamic processes: Applications to renewable resources," Journal of Environmental Economics and Management, Elsevier, vol. 57(1), pages 104-121, January.
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- G. C. van Kooten & Andrew Schmitz, 1992. "Preserving Waterfowl Habitat on the Canadian Prairies: Economic Incentives versus Moral Suasion," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 74(1), pages 79-89.
- Sanchirico, James N. & Wilen, James E., 2008. "Sustainable Use of Renewable Resources: Implications of Spatial-Dynamic Ecological and Economic Processes," International Review of Environmental and Resource Economics, now publishers, vol. 1(4), pages 367-405, February.
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