Valuing Bag Limits in the North Carolina Charter Boat Fishery with Combined Revealed and Stated Preference Data
John Whitehead (),
Christopher F. Dumas,
Craig Landry and
No 11-08, Working Papers from Department of Economics, Appalachian State University
We use telephone survey data on charter boat anglers to estimate demand models to value snapper-grouper and king mackerel bag limits in the North Carolina for-hire fishery. The telephone survey presents respondents with hypothetical situations about higher charter fees and lower snapper-grouper and king mackerel bag limits and asks about the number of trips they would take in each situation. Stated preference trip responses are used in a jointly estimated revealed and stated preference demand model. We find that reduction in the snapper-grouper bag limit from 15 fish to 7 fish would reduce the annual aggregate value of charter boat fishing by 29% due to quality effects. The reduction in the snapper-grouper bag limit would reduce the number of charter boat fishing trips by 25% and aggregate economic value an additional 25% million. Key Words: recreation demand, revealed preference, stated preference, charter fishing
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