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

Author

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

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.

Suggested Citation

  • Gillespie, Patrick R. & Hynes, Stephen & O'Reilly, Paul, 2016. "VALUING THE WATERVILLE FISHERY: A travel cost analysis of anglers’ recreational use-values," 90th Annual Conference, April 4-6, 2016, Warwick University, Coventry, UK 236357, Agricultural Economics Society.
    • Handle: RePEc:ags:aesc16:236357
    DOI: 10.22004/ag.econ.236357
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    References listed on IDEAS

    as
    1. Henk Folmer & H. L. Gabel & Hans Opschoor (ed.), 1995. "Principles of Environmental and Resource Economics," Books, Edward Elgar Publishing, number 168.
    2. Michael D. Creel & John B. Loomis, 1990. "Theoretical and Empirical Advantages of Truncated Count Data Estimators for Analysis of Deer Hunting in California," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 72(2), pages 434-441.
    3. Englin, Jeffrey & Shonkwiler, J S, 1995. "Estimating Social Welfare Using Count Data Models: An Application to Long-Run Recreation Demand under Conditions of Endogenous Stratification and Truncation," The Review of Economics and Statistics, MIT Press, vol. 77(1), pages 104-112, February.
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    Keywords

    Agricultural and Food Policy; Environmental Economics and Policy;

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