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A Repeated Mixed Logit Approach to Valuing a Local Sport Fishery: The Case of Southeast Alaska Salmon

  • Daniel K. Lew
  • Douglas M. Larson
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    We estimate the values of fishing opportunities and changes in harvest rates for single-day private boat saltwater fishing for king and silver salmon in southeast Alaska, using a repeated mixed logit model of trip frequency and distribution estimated jointly with anglers’ shadow values of time. The standard assumption that the shadow value of time is a fixed fraction of the angler’s wage is rejected in favor of a more flexible model. The mean value of a fishing choice occasion is approximately $45 per angler, and mean marginal values of a king salmon and a silver salmon are approximately $71 and $106.

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    Article provided by University of Wisconsin Press in its journal Land Economics.

    Volume (Year): 87 (2011)
    Issue (Month): 4 ()
    Pages: 712-729

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    Handle: RePEc:uwp:landec:v:87:y:2011:iv:1:p:712-729
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    1. Vasquez Lavin, Felipe & Hanemann, W. Michael, 2008. "Functional forms in discrete/continuous choice models with general corner solution," CUDARE Working Paper Series 1078, University of California at Berkeley, Department of Agricultural and Resource Economics and Policy.
    2. Bill Provencher & Kenneth A. Baerenklau & Richard C. Bishop, 2002. "A Finite Mixture Logit Model of Recreational Angling with Serially Correlated Random Utility," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 84(4), pages 1066-1075.
    3. Keith Criddle & M. Herrmann & S. Lee & C. Hamel, 2001. "Participation decisions, angler welfare, and the regional economic impact of sportfishing," Working Papers 2001-13, Utah State University, Department of Economics.
    4. Carson, Richard & Hanemann, Michael & Steinberg, Dan, 1990. "A discrete choice contingent valuation estimate of the value of Kenai King salmon," Journal of Behavioral Economics, Elsevier, vol. 19(1), pages 53-68.
    5. R. Craig Layman & John R. Boyce & Keith R. Criddle, 1996. "Economic Valuation of the Chinook Salmon Sport Fishery of the Gulkana River, Alaska, under Current and Alternate Management Plans," Land Economics, University of Wisconsin Press, vol. 72(1), pages 113-128.
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