This paper proposes the use of stated preference techniques for analyzing regulation and negotiation schemes in a specific mangrove forest in northwest Mexico. This proposal will help people involved in environmental management simulate the welfare outcomes for society that may result under different management strategies. To analyze the usefulness of this proposal, its application to a nature-based recreational area in northwest Mexico is presented. At this specific site, the most visible and profitable activity is a tourist boat ride through mangroves in which crocodile watching is one of the main attractions. The use of the stated preference techniques for simulating different management strategies was successful. Six different scenarios were simulated, showing differences in social welfare among the scenarios. Identifying these differences was very useful for making policy recommendations. Some of the conclusions obtained for this specific case emphasize the importance of the definition of property rights, the convenience of mixing free access control with anti-trust policies, and the importance of providing positive externalities.