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Toward Total Economic Valuation of Great Lakes Fishery Resources
Author(s) -
Bishop Richard C.,
Boyle Kevin J.,
Welsh Michael P.
Publication year - 1987
Publication title -
transactions of the american fisheries society
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.696
H-Index - 86
eISSN - 1548-8659
pISSN - 0002-8487
DOI - 10.1577/1548-8659(1987)116<339:ttevog>2.0.co;2
Subject(s) - endangered species , fishery , total economic value , valuation (finance) , notropis , fish <actinopterygii> , value (mathematics) , geography , ecology , economics , biology , statistics , habitat , mathematics , finance , ecosystem , ecosystem services
Research dealing with the economic values of Great Lakes fish has focused on sport and commercial exploitation (consumptive use values). In this paper, we ask what other types of monetary values might be associated with Great Lakes fishery resources and examine how these other types of values (indirect use values and intrinsic values) relate to values derived from exploitation. We estimate a total value of $12,000,000 per year to Wisconsin taxpayers for preservation of striped shiners Notropis chrysocephalus, a Wisconsin endangered species that is resident in a tributary of Lake Michigan. For comparison, we estimate a total value of $28,000,000 per year for preservation of bald eagles Haliaeetus leucocephalus, also endangered in Wiconsin. In neither case was consumptive use a determinant of value. We also discuss the validity of the technique used to estimate these values. We conclude that intrinsic values for Great Lakes fish may be substantial. Future research should attempt to measure total values and not just values from exploitation.