Valuing the Recreational Benefits From the Creation of Nature Reserves in Irish Forests

Riccardo Scarpa (), Susan M. Chilton, W. George Hutchinson and Joseph Buongiorno
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Susan M. Chilton: CASPER, Department of Economics, University of Newcastle Upon Tyne, United Kingdom
W. George Hutchinson: Department of Agricultural and Food Economics, Queens University Belfast, United Kingdom
Joseph Buongiorno: Department of Forest Ecology and Management, University of Wisconsin, Madison, United States of America

No 1999.11, Working Papers from Fondazione Eni Enrico Mattei

Abstract: Data from a large-scale contingent valuation study are used to investigate the effects of forest attributes on willingness to pay for forest recreation in Ireland. In particular, the presence of a nature reserve in the forest is found to significantly increase the visitors' willingness to pay. A random utility model is used to estimate the welfare change associated with the creation of nature reserves in all the Irish forests currently without one. The yearly impact on visitors' economic welfare of new nature reserves approaches half a million pounds per annum, exclusive of non recreational values.

Keywords: Non-market valuation; Contingent valuation; Forest attributes analysis; Nature reserves. (search for similar items in EconPapers)
JEL-codes: Q23 Q26 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-agr, nep-cul, nep-env, nep-pbe and nep-pub
Date: 1999-02
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Related works:
Journal Article: Valuing the recreational benefits from the creation of nature reserves in Irish forests (2000)
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Persistent link: http://EconPapers.repec.org/RePEc:fem:femwpa:1999.11

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