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How to Value the Benefits of a Recreational Area? A Cost-Benefit Analysis of the Conversion of a Brownfield to a Public Beach in Muggia (Italy)

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  • JEROME MASSIANI

    (Universita ca Foscari di Venezia)

Abstract

In this paper, we evaluate the potential reconversion to recreational uses of a brownfield area on the shoreline of Muggia (North-East Italy). We perform a Cost-Benefit Analysis of the value to society of such a reconversion compared with alternative scenarios (excavation and Òdo minimumÒ). We investigate why existing methods, including the ÒEconomic ImpactÓ, are not be appropriate to provide normative recommendations. As an alternative, we propose a parsimonious method based on contingent valuation and a pressure-intensity function, for valuing the recreational value in a context where available data are scarce. Our results strongly support the reconversion of the area to recreational functions.

Suggested Citation

  • Jerome Massiani, 2013. "How to Value the Benefits of a Recreational Area? A Cost-Benefit Analysis of the Conversion of a Brownfield to a Public Beach in Muggia (Italy)," Review of Economic Analysis, Digital Initiatives at the University of Waterloo Library, vol. 5(1), pages 86-102, June.
    • Handle: RePEc:ren:journl:v:5:y:2013:i:1:p:86-102
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    References listed on IDEAS

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    1. Gopalakrishnan, Sathya & Smith, Martin D. & Slott, Jordan M. & Murray, A. Brad, 2011. "The value of disappearing beaches: A hedonic pricing model with endogenous beach width," Journal of Environmental Economics and Management, Elsevier, vol. 61(3), pages 297-310, May.
    2. Blackwell, Boyd, 2007. "The Value of a Recreational Beach Visit: An Application to Mooloolaba Beach and Comparisons with other Outdoor Recreation Sites," Economic Analysis and Policy, Elsevier, vol. 37(1), pages 77-98, March.
    3. repec:rre:publsh:v:40:y:2010:i:3:p:273-286 is not listed on IDEAS
    4. Kenneth E. McConnell, 1977. "Congestion and Willingness to Pay: A Study of Beach Use," Land Economics, University of Wisconsin Press, vol. 53(2), pages 185-195.
    5. Cordes, Joseph J & Gatzlaff, Dean H & Yezer, Anthony M, 2001. "To the Water's Edge, and Beyond: Effects of Shore Protection Projects on Beach Development," The Journal of Real Estate Finance and Economics, Springer, vol. 22(2-3), pages 287-302, March-May.
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    Cited by:

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    More about this item

    Keywords

    recreational value; cost benefit analysis; beach regeneration;
    All these keywords.

    JEL classification:

    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate

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