Valuing Marine Biodiversity in the Gulf of Mexico: Evidence from the Proposed Boundary Expansion of the Flower Garden Banks National Marine Sanctuary

Stephanie F. Stefanski and Jay Shimshack

Marine Resource Economics, 2016, vol. 31, issue 2, 211 - 232

Abstract: Ecological diversity is especially high in the Gulf of Mexico, and multiple Gulf of Mexico resources imply complex management challenges. Yet, relatively little is known about social values of marine biodiversity in the Gulf of Mexico. This article uses results from a stated preference survey of nationally representative households to quantify economic values. The specific assessment scenario involves a current policy proposal to expand the boundaries of the Flower Garden Banks National Marine Sanctuary. Willingness to pay estimates range from $35-$107 per household. Respondent characteristics are related to willingness to pay in ways consistent with economic intuition and theory. We conclude with aggregate willingness to pay calculations, and results suggest that total social benefits of marine reserve expansion in the Gulf region are large.

Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
http://dx.doi.org/10.1086/685109 (application/pdf)
http://dx.doi.org/10.1086/685109 (text/html)
Access to the online full text or PDF requires a subscription.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ucp:mresec:doi:10.1086/685109

Access Statistics for this article

More articles in Marine Resource Economics from University of Chicago Press
Bibliographic data for series maintained by Journals Division ().