EXISTENCE, OPTION, AND USER DEMANDS FOR NONMARKET RESOURCES
Trudy Cameron () and
Jeffrey Englin ()
No 270854, 1990 Annual meeting, August 5-8, Vancouver, Canada from American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association)
An ambitious survey of households in the Northeastern United States ' conducted during July of 1989 allows an unusual opportunity to make an empirical assessment of the effects upon individual resource valuations of different categories of demand for fresh-water recreational resources. The theoretical and empirical literature using contingent valuation methods to measure the demand for nonmarket goods typically emphasizes user demands only. By neglecting the magnitude of option and existence demands, the total social value of these resources (or changes in them) can be systematically understated. We are careful to address the simultaneity between demand status and individual environmental values, employing ordered probit models, censored normal regression models, and a generalization of selectivity correction models in an effort to uncover the true contribution of demand status to the explanation of resource values.
Keywords: Agricultural and Food Policy; Demand and Price Analysis (search for similar items in EconPapers)
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