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Testing Construct Validity of River Recreation Use Values: A Comparison of Direct Elicitation of Use Values to Use Values Inferred Indirectly from WTP for Total Economic Value

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  • Loomis, John B.

Abstract

The Total Economic Value (TEV of on-site use and passive use values) of avoiding a 50% reduction in current early summer high flows is estimated for a western urban river in Colorado. Using a contingent valuation method (CVM) survey of households we found that willingness to pay (WTP) for TEV of city households was $234 per year, with most of this value, $207, being use value. Using a second CVM question specifically about recreation use value of visitors yielded an estimated annual WTP of $156 per year. Given the large variances in estimated WTP, the two estimates of recreation use value are not significantly different. Summing up the TEV’s per household in the city yields an annual value of $171 to $255 per acre foot, several times larger than annual water lease rates in Northern Colorado.

Suggested Citation

  • Loomis, John B., 2010. "Testing Construct Validity of River Recreation Use Values: A Comparison of Direct Elicitation of Use Values to Use Values Inferred Indirectly from WTP for Total Economic Value," 2010 Annual Meeting, July 25-27, 2010, Denver, Colorado 60410, Agricultural and Applied Economics Association.
  • Handle: RePEc:ags:aaea10:60410
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    File URL: http://ageconsearch.umn.edu/record/60410/files/Loomis%20AAEA%20Selected%20paper%2010272.pdf
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    References listed on IDEAS

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    1. Timothy Park & John B. Loomis & Michael Creel, 1991. "Confidence Intervals for Evaluating Benefits Estimates from Dichotomous Choice Contingent Valuation Studies," Land Economics, University of Wisconsin Press, vol. 67(1), pages 64-73.
    2. Cameron, Trudy Ann, 1988. "A new paradigm for valuing non-market goods using referendum data: Maximum likelihood estimation by censored logistic regression," Journal of Environmental Economics and Management, Elsevier, vol. 15(3), pages 355-379, September.
    3. Champ, Patricia A. & Bishop, Richard C. & Brown, Thomas C. & McCollum, Daniel W., 1997. "Using Donation Mechanisms to Value Nonuse Benefits from Public Goods," Journal of Environmental Economics and Management, Elsevier, vol. 33(2), pages 151-162, June.
    4. Brookshire, David S, et al, 1982. "Valuing Public Goods: A Comparison of Survey and Hedonic Approaches," American Economic Review, American Economic Association, vol. 72(1), pages 165-177, March.
    5. Vossler, Christian A. & Kerkvliet, Joe, 2003. "A criterion validity test of the contingent valuation method: comparing hypothetical and actual voting behavior for a public referendum," Journal of Environmental Economics and Management, Elsevier, vol. 45(3), pages 631-649, May.
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