Economics, Econometrics and Finance
8 years ago

New study reveals the true value of water-based recreation opportunities.

Water International
Concepts of Value for Water-Based Recreation Opportunities
John F. Dwyer, Michael D. Bowes

Paper Summary

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The article discusses how to determine the value of water-based recreation opportunities. To calculate the value of new recreation options, we look at how much people are willing to pay for them. To calculate the value of lost opportunities, we consider how much people would sell their rights to those opportunities for. We have made progress in estimating how much people are willing to pay, but we still need better methods for estimating how much people are willing to sell. More work is needed to develop these methods.