A Repeated Mixed Logit Approach to Valuing a Local Sport Fishery: The Case of Southeast Alaska Salmon
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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- Vasquez Lavin, Felipe & Hanemann, W. Michael, 2008.
"Functional Forms in Discrete/Continuous Choice Models With General Corner Solution,"
Department of Agricultural & Resource Economics, UC Berkeley, Working Paper Series
qt7z25t659, Department of Agricultural & Resource Economics, UC Berkeley.
- Felipe Vásquez & Michael Hanemann, 2009. "Functional Forms in Discrete/Continuous Choice Models with General Corner Solution," Working Papers 08-2009, Departamento de Economía, Universidad de Concepción.
- 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.
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- 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.
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