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- Title
Recreation Economics: Taking Stock.
- Authors
Matulich, Scott C.; Workman, William G.; Jubenville, Alan
- Abstract
Reflection on the historical roots of outdoor recreation research offers some insight. Early impetus for assessing the economic value of outdoor recreation stemmed from an interest in improving benefit-cost analyses of natural resource investments, particularly multipurpose, federal water projects. Initially "valuation" was done by assigning some arbitrary unit-day value for each visit times the projected number of visits. Beginning with hotelling, economists devoted substantial effort to develop nonmarket valuation methodologies that were more rigorously anchored in economic theory. The travel cost method (TCM) and survey or contingent valuation method (CYM) are products of these early efforts. The early TCM and CYM techniques, and subsequent conceptual and methodological requirements that continue today, have had profound impacts on two classes of public policy: ex ante project feasibility analysis intended to assist in choice among alternative projects, and ex post construction audits designed to determine whether program expenditures were warranted. These policy contributions are similar in that they center on discrete, often dichotomous, decisions, decisions markedly different from those most commonly encountered in the 1980s.
- Subjects
OUTDOOR recreation; POLICY sciences; POLICY science literature; NATURAL resources; ECONOMICS; CONTINGENT valuation
- Publication
Land Economics, 1987, Vol 63, Issue 3, p310
- ISSN
0023-7639
- Publication type
Article
- DOI
10.2307/3146841