VALUING THE WATERVILLE FISHERY: A travel cost analysis of anglers’ recreational use-values

Patrick R. Gillespie, Stephen Hynes and Paul O'Reilly

No 236357, 90th Annual Conference, April 4-6, 2016, Warwick University, Coventry, UK from Agricultural Economics Society

Abstract: The Waterville fishery provides angling and other recreation amenities to the public at a nominal cost. However, the use-value which this site provides is not completely captured by market transactions. Benefits which must be consumed in situ make the Travel Cost Method (TCM) the most appropriate choice of revealed preference technique for estimating their value. Data for this analysis was sourced from an online survey, but many respondents were first approached on-site, and links to the survey questionnaire were also advertised on a local conservation website, so self-selection bias was expected. A negative binomial model with a correction for endogenous stratification was estimated, and it outperformed both the standard Negative Binomial and Poisson models. The resulting estimate of per trip consumer surplus was €300. Furthermore, there was a lack of any evidence to support the idea that the site’s benefits are inferior goods. In light of this, and of the high use-values associated with the site, the conclusion drawn from the analysis is that future development plans should prioritise the health of the local ecosystem before other quality improving measures.

Keywords: Agricultural and Food Policy; Environmental Economics and Policy (search for similar items in EconPapers)
Pages: 21
Date: 2016-04
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Persistent link: https://EconPapers.repec.org/RePEc:ags:aesc16:236357

DOI: 10.22004/ag.econ.236357

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