How to Value the Benefits of a Recreational Area? A Cost-Benefit Analysis of the Conversion of a Brownfield to a Public Beach in Muggia (Italy)

Jérôme Massiani

Review of Economic Analysis, 2013, vol. 5, issue 1, 86-102

Abstract: In this paper, we evaluate the potential reconversion to recreational uses of a brownfield area on the shoreline of Muggia (North-East Italy). We perform a Cost-Benefit Analysis of the value to society of such a reconversion compared with alternative scenarios (excavation and Òdo minimumÒ). We investigate why existing methods, including the ÒEconomic ImpactÓ, are not be appropriate to provide normative recommendations. As an alternative, we propose a parsimonious method based on contingent valuation and a pressure-intensity function, for valuing the recreational value in a context where available data are scarce. Our results strongly support the reconversion of the area to recreational functions.

Keywords: recreational value; cost benefit analysis; beach regeneration (search for similar items in EconPapers)
JEL-codes: H43 L83 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ren:journl:v:5:y:2013:i:1:p:86-102

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