UNCERTAIN RECREATION QUALITY AND WILDLIFE VALUATION: ARE CONVENTIONAL BENEFIT MEASURES ADEQUATE?

Dennis C. Cory, Bonnie Colby and Edwin H. Carpenter

Western Journal of Agricultural Economics, 1988, vol. 13, issue 2, 10

Abstract: Theoretical issues and empirical approaches are discussed for benefit estimation when wildlife resource users face uncertain recreation quality. It is argued that selection of an appropriate benefit measure is predicted upon differing attitudes toward quality uncertainty, expected utility maximization, and risk. In particular, it is shown that for specific groups in the user population, conventional benefit measures do not apply, and alternative welfare measures are developed. Implications for restructuring contingent valuation procedures are discussed.

Keywords: Resource/Energy; Economics; and; Policy (search for similar items in EconPapers)
Date: 1988
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:ags:wjagec:32110

DOI: 10.22004/ag.econ.32110

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