Improved procedures for valuation of the contribution of recreation to national economic development

Dwyer, John F.; Kelly, John R.; Bowes, Michael D.

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https://hdl.handle.net/2142/90057 Copy

Description

Title

Improved procedures for valuation of the contribution of recreation to national economic development

Author(s)

• Dwyer, John F.
• Kelly, John R.
• Bowes, Michael D.

Contributor(s)

University of Illinois at Urbana-Champaign

Issue Date

1977-09

Keyword(s)

• Water resource development
• Water resource development--Illinois
• Human dimensions
• Recreation
• National economic development
• Benefits
• Consumers surplus
• Economics
• Travel cost method
• Interview method
• Unit day values

Geographic Coverage

Illinois (state)

Abstract

Improved procedures are presented for evaluating the contribution of recreation to national economic development. These procedures are to replace those outlined in the Principles and Standards for Planning Water and Related Land Resources. Desirable criteria for valuation procedures are specified. Variation procedures currently used by federal agencies make almost exclusive use of the “interim unit day value approach,” sometimes augmented by point systems. This approach has little theoretical or empirical justification and does not encourage efficient allocation of resources. Revision and modification of the “interim unit day value approach” and the use of point systems is not a useful method of developing improved procedures. Rather, it is recommended that models be developed to predict individual willingness-to-pay for many types of recreation as functions of site characteristics, the characteristics of the individual user (including the history of the previous use), the availability of substitute activities and sites, and the location of the individual in relation to the resources under study. The total value of the resource would then be a function of these variables, the number of users, and the distribution of users within the market area. These functions may be derived from regional travel cost demand functions (which would also provide estimates of use) or could be explicit willingness-to-pay functions derived from the survey method (which must be supplemented by a use estimate). Examples of the desired models are provided along with guidelines for their development and use. Needs for further research are identified.

Publisher

University of Illinois at Urbana-Champaign. Water Resources Center

Type of Resource

text

Language

en

Permalink

http://hdl.handle.net/2142/90057

Sponsor(s)/Grant Number(s)

• U.S. Department of the Interior
• U.S. Geological Survey

Copyright and License Information

Copyright 1977 held by John F. Dwyer, John R. Kelly, Michael D. Bowes

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