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Opening a Public Recreation Area to Revitalize Coastal Communities and Preserve Natural Resources in Louisiana: The Case of Elmer's Island

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  • Paudel, Krishna P.
  • Caffey, Rex H.
  • Devkota, Nirmala
  • Hall, Larry M.

Abstract

The income capitalization approach is used, based on expenditure and nonmarket values collected from travel-cost and contingent valuation methodologies, to measure the feasibility of running a self-sustaining recreational site in coastal Louisiana. Through Internet and intercept surveys, a total of 2,696 respondents, 88% of them anglers, provided information on economic expenditures, destination preferences, and preferences for specific site amenities regarding Elmer's Island. The purchase and subsequent opening of the area to the public were found to be self-sustaining even when considering conservative economic estimates.

Suggested Citation

  • Paudel, Krishna P. & Caffey, Rex H. & Devkota, Nirmala & Hall, Larry M., 2005. "Opening a Public Recreation Area to Revitalize Coastal Communities and Preserve Natural Resources in Louisiana: The Case of Elmer's Island," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 37(2), pages 1-10, August.
    • Handle: RePEc:ags:joaaec:43773
    DOI: 10.22004/ag.econ.43773
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    References listed on IDEAS

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    1. Hughes, David W., 2003. "Policy Uses of Economic Multiplier and Impact Analysis," Choices: The Magazine of Food, Farm, and Resource Issues, Agricultural and Applied Economics Association, vol. 18(2), pages 1-6.
    2. Costanza, Robert & Farber, Stephen C. & Maxwell, Judith, 1989. "Valuation and management of wetland ecosystems," Ecological Economics, Elsevier, vol. 1(4), pages 335-361, December.
    3. Jeremy J. Emmert, 1999. "Income and Substitution Effects in the Travel Cost Model: An Application to Indiana State Parks," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 81(5), pages 1330-1337.
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    1. Paudel, Krishna P. & Caffey, Rex H. & Devkota, Nirmala, 2011. "An Evaluation of Factors Affecting the Choice of Coastal Recreational Activities," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 43(2), pages 167-179, May.

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