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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- Hansen, LeRoy T., 2009. "The Viability of Creating Wetlands for the Sale of Carbon Offsets," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 34(2), August.
- James E. Wilen, 2007. "Economics of Spatial-Dynamic Processes," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 89(5), pages 1134-1144.
- Loomis, John B. & White, Douglas S., 1996. "Economic benefits of rare and endangered species: summary and meta-analysis," Ecological Economics, Elsevier, vol. 18(3), pages 197-206, September.
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