A benefit-cost analysis of a red drum stock enhancement program in South Carolina

2018 ◽  
Vol 9 (2) ◽  
pp. 323-341
Author(s):  
R. J. Rhodes ◽  
J. C. Whitehead ◽  
T. I. J. Smith ◽  
M. R. Denson
Keyword(s):  
South Carolina ◽  
Contingent Valuation Method ◽  
Mail Survey ◽  
Red Drum ◽  
Economic Benefits ◽  
Benefit Cost Analysis ◽  
Management Actions ◽  
Valuation Method ◽  
Regional Management ◽  
Benefit Cost

Recreational saltwater anglers from the mid-Atlantic through the Gulf of Mexico commonly target red drum. Due to concerns about overharvesting within South Carolina coupled with regional management actions, South Carolina explored the technical feasibility of stocking hatchery-produced juvenile red drum as a technique to augment the abundance of South Carolina stock. In order to assess a continued program, in 2005 a mail survey was used to collect data for estimating the economic benefits with the contingent valuation method. The theoretical validity of willingness to pay was assessed by comparison to the value of a change in red drum fishing trips that would result from the program. Benefits were compared to estimated, explicit stocking costs. We illustrate how a certainty recode approach can be used in sensitivity analysis. The net present values (NPVs) for the stocking program are positive suggesting that the program would have been economically efficient relative to no program.

scholarly journals Incorporating Distributional Issues into Benefit Cost Analysis: Why, How, and Two Empirical Examples Using Non-market Valuation

2011 ◽  
Vol 2 (1) ◽  
pp. 1-24 ◽  
Author(s):  
John B. Loomis
Keyword(s):  
Low Income ◽  
Contingent Valuation Method ◽  
Fire Suppression ◽  
Environmental Benefits ◽  
Demographic Groups ◽  
Benefit Cost Analysis ◽  
Interaction Terms ◽  
Valuation Method ◽  
Non Market Valuation ◽  
Benefit Cost

This article reviews the rationale for and various approaches used by economists to incorporate distributional consequences of projects or policies into benefit-cost analyses. Approaches reviewed include distributional weights and metrics based on the Lorenz curve. Analysis of distributional issues in partial equilibrium and general equilibrium settings are briefly reviewed. We present an empirical demonstration of how the contingent valuation method (CVM) and hedonic property methods (HPM) can be used to quantify how non-market environmental benefits are distributed by income and ethnicity. Using CVM, the distribution of non-market benefits can be cross-tabbed with respondent demographics, so that a variety of “distributions” of benefits by relevant demographic groups can be calculated. Using the HPM, the analyst can statistically test to see if the implicit price gradient varies with differences in income and ethnicity. In our empirical example, we find that ethnicity and income interaction terms on the implicit price gradient are statistically significant suggesting differential effects of National Forest fire suppression policies on Hispanics and low income households.

scholarly journals Public Environmental Amenity Benefits of Private Land: The Case of Prime Agricultural Land

1985 ◽  
Vol 17 (1) ◽  
pp. 139-149 ◽  
Author(s):  
John C. Bergstrom ◽  
B. L. Dillman ◽  
John R. Stoll
Keyword(s):  
South Carolina ◽  
Agricultural Land ◽  
Contingent Valuation Method ◽  
Mail Survey ◽  
Future Research ◽  
Private Land ◽  
Payment Card ◽  
Market Structures ◽  
Valuation Method ◽  
The Relationship

AbstractFailure of land markets to account for environmental amenity benefits may lend support to public policies to protect agricultural land. The contingent valuation method is employed to estimate willingness to pay for such amenities in Greenville County, South Carolina. Marginal household amenity benefits were estimated at $.06 per thousand acres using a payment card in a mail survey with 53 percent response. Bid payment vehicle was found not to significantly influence bids received. The informational structure of the contingent market was found to influence valuation responses, reinforcing the hypothesis that respondents react to alternative contingent market structures. The relationship between contingent market structure and directional effects upon responses is an important area for future research.

Estimating the Value of Reducing Fire Hazards to Old-Growth Forests in the Pacific-Northwest - a Contingent Valuation Approach

1994 ◽  
Vol 4 (4) ◽  
pp. 209 ◽  
Author(s):  
J Loomis ◽  
A Gonzalescaban
Keyword(s):  
Willingness To Pay ◽  
Contingent Valuation ◽  
Pacific Northwest ◽  
Fire Management ◽  
Contingent Valuation Method ◽  
Mail Survey ◽  
Control Program ◽  
Fire Hazards ◽  
Valuation Method ◽  
Analysis System

To expand the scope of natural resource values included in USDA Forest Service fire management analysis system, a mail survey of Oregon households regarding their willingness to pay for a fire prevention and control program on northern spotted owl critical habitat units in Oregon was performed. Using the voter referendum format, annual willingness to pay of $77 per Oregon household was estimated. This translates into a value of $28 per acre protected. The contingent valuation method may provide a promising avenue for incorporating society's broadening concern about biodiversity and natural values into public land management agencies fire management decisions.

scholarly journals VALUASI EKONOMI MANFAAT LANGSUNG DAN TIDAK LANGSUNG KAWASAN WADUK MALAHAYU, KABUPATEN BREBES

2016 ◽  
Vol 5 (3) ◽  
pp. 119-126
Author(s):  
Sofiana Sofiana ◽  
Anhar Solichin ◽  
Dian Wijayanto
Keyword(s):  
Contingent Valuation Method ◽  
Economic Benefits ◽  
Cluster Sampling ◽  
Economic Values ◽  
Purposive Sampling ◽  
Indirect Benefits ◽  
Valuation Method ◽  
Tourism Sector ◽  
Convenience Sampling ◽  
Production Approach

ABSTRAK Waduk Malahayu merupakan waduk yang mempunyai peranan penting baik bagi warga masyarakat sekitar maupun bagi pemerintah Kabupaten Brebes. Hal ini dikarenakan warga masyrakat memanfaatkan Waduk Malahayu sebagai alat pemenuh kebutuhan mereka seperti kegiatan perikanan tangkap, kegiatan pariwisata, kegiatan penggunaan air bersih, kegiatan transportasi waduk dan kegiatan irigasi sawah. Oleh karena itu Waduk Malahayu menjadi waduk yang perlu dilestarikan keberadaannya untuk menjaga sumberdaya yang mempunyai nilai ekonomi tersebut. Penelitian dilakukan pada bulan Januari-Februari 2016 di Waduk Malahayu yang bertujuan untuk mengetahui secara ekonomi nilai manfaat langsung kawasan Waduk Malahayu dan secara ekonomi manfaat tidak langsung kawasan Waduk Malahayu. Metode yang digunakan yaitu metode penilaian harga pasar untuk sektor perikanan tangkap, metode biaya perjalanan untuk sektor pariwisata, metode Effect on Production Approach(EOP) untuk sektor air bersih dan metode Contingent Valuation Method(CVM) untuk sektor irigasi. Metode penentuan responden menggunakan teknik purposive sampling untuk perikanan tangkap, convenience sampling untuk pariwisata, cluster sampling untuk air bersih, sensus dan convenience sampling untuk transportasi serta purposive sampling untuk irigasi. Hasil penelitian menunjukkan nilai ekonomi manfaat langsung sektor perikanan tangkap yaitu sebesar Rp. 1.369.180.000/tahun, sektor pariwisata yaitu Rp. 3.542.398.400/tahun, sektor air bersih sebesar Rp. 210.360.000/tahun dan sektor transportasi sebesar Rp. 375.407.002/tahun. total nilai ekonomi manfaat langsung yaitu Rp. 5.497.345.402/tahun. Nilai ekonomi manfaat tidak langsung yaitu dari sektor irigasi mempunyai Nilai ekonomi sebesar Rp. 1.101.500.000/tahun. Kata Kunci : Valuasi Ekonomi; Manfaat Langsung; Manfaat Tidak Langsung; Waduk  ABSTRACT Malahayu reservoir is a reservoir that has an important role both for the citizens and the government around Brebes. This is because citizens of the community utilizing Malahayu Reservoir as a means of fulfilling their needs as the activities of fisheries, tourism, fresh water, transportation reservoirs and irrigated rice fields plantation. Therefore Reservoir Malahayu into reservoirs that need to be preserved its existence to keep the resources which have economic values. The study was conducted in January-February 2016 in Reservoir Malahayu which aims to determine the economic values of the direct and indirect economic benefits of Malahayu Reservoir area. The method used are the market price valuation method for the fisheries sector, method of travel costs for the tourism sector, the method Effect on Production Approach (EOP) for the water sector and the methods of Contingent Valuation Method (CVM) for the irrigation sector. The method to determine the respondents used purposive sampling techniques for capture fisheries, convenience sampling for tourism, cluster sampling for clean water, census and convenience sampling for transporationt as well as purposive sampling for irrigation. The results showed the economic values of direct benefit fisheries sector is IDR 1,369,180,000 per year , the tourism sector is IDR 3,542,398,400/year, water sector amounting to IDR 210,360,000 per year and the transportation sector amounted to IDR 375,407,002 per year. The total values of the direct economic benefits of IDR 5,497, 345, 402 per year. The economic values of the indirect benefits of the irrigation sector that has economic values of IDR 1,101,500,000per year. Keywords: Economic Valuation, Benefits Direct, Indirect Benefits, Malahayu Reservoirs

Economic analysis of an areawide program for biological control of the alfalfa weevil

1995 ◽  
Vol 10 (4) ◽  
pp. 173-179 ◽  
Author(s):  
J.M. White ◽  
P.G. Allen ◽  
L.J. Moffitt ◽  
P.P. Kingsley
Keyword(s):  
Biological Control ◽  
Control Program ◽  
Economic Benefits ◽  
Cost Ratio ◽  
Biological Pest Control ◽  
Alfalfa Weevil ◽  
Benefit Cost Analysis ◽  
Benefit Cost Ratio ◽  
Livestock Products ◽  
Benefit Cost

AbstractAn areawide program for biological control of the alfalfa weevil showed expected economic benefits of $2.2 billion, expressed in present value terms. Alfalfa producers and consumers of livestock products are the main beneficiaries. The control program was highly successful, with a benefit/cost ratio of about 91. Not all areawide biological pest control programs will be as successful; a benefit-cost analysis like the one described here should be performed before areawide control is initiated to identify programs expected to provide economic benefits.

scholarly journals Benefit-Cost Analysis with Local Residents’ Stated Preference Information: A Study of Non-Motorized Transport Investments in Pune, India

2011 ◽  
Vol 2 (3) ◽  
pp. 1-37 ◽  
Author(s):  
Hua Wang ◽  
Ke Fang ◽  
Yuyan Shi
Keyword(s):  
Willingness To Pay ◽  
Stated Preference ◽  
Contingent Valuation Method ◽  
Economic Value ◽  
Development Project ◽  
Benefit Cost Analysis ◽  
Local Residents ◽  
The Government ◽  
Benefit Cost ◽  
Motorized Transport

One of the major difficulties in doing benefit-cost analyses of a development project is to estimate a total economic value of the project benefits, which are usually multi-dimensional and include goods and services that are not traded in the market, and challenges also arise in aggregating the values of different benefits, which may not be mutually exclusive. This paper presents an analysis of a non-motorized transport project in Pune, India, which uses the contingent valuation method to estimate the total value of the project benefits across beneficiaries. A sample of the project beneficiaries are presented with a detailed description of the project and then are asked to vote on whether such a project should be undertaken given different specifications of costs to their households. A function of willingness-to-pay for the project is then derived from the survey answers and the key determinants are found to include household income, distance to the project streets, current use of the transportation modes, future use of the project streets, predicted impacts of the project, and level of trust in the government. The total willingness-to-pay of the local residents is found to be smaller than the total cost of an initial design of the project. Heteroskedasticity is also found to present in the willingness-to-pay models.

Measuring the Total Economic Value of Restoring Ecosystem Services in Erhai Lake Basin: Results from a Contingent Valuation Survey

2012 ◽  
Vol 433-440 ◽  
pp. 1208-1212
Author(s):  
Wei Juan Mao ◽  
Ping Ning ◽  
Guang Fei Qu ◽  
Shang Hua Luo
Keyword(s):  
Ecosystem Services ◽  
Contingent Valuation ◽  
Contingent Valuation Method ◽  
Economic Value ◽  
Economic Benefits ◽  
Lake Basin ◽  
Erhai Lake ◽  
Valuation Method ◽  
Positive Externalities ◽  
Non Market Valuation

The contingent valuation method is one of the most significant approaches of non-market valuation techniques and has been used widely. The authors take it as a tool to analyze the economic benefits of restoring ecosystem service in an impaired river basin， Erhai lake basin. To obtain accurate benefit estimates using CVM technique requires detailed descriptions of the resources being valued. Results from 100 in-person interviews indicate that 84.7% of the households in Erhai lake basin would like to pay for restoring the ecosystem services of Erhai. The analysis of the payment card data shows that the average willingness to pay (WTP) is 80.325 RMB Yuan per household per year. The annual aggregate benefits of restoring ecosystem services of Erhai lake Basin is at least 6.426×107 RMB Yuan，calculated by the number of the households about 800,000 in the Erhai lake basin. This result is a conservative estimate for the economic value of restoring the ecosystem services of Erhai lake basin because of the positive externalities of restoring the ecosystem services on the outside of Erhai lake basin.

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