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Economic Value of Great Lakes Sportfishing: The Case of Private‐Boat Fishing in Ohioˈs Lake Erie
Author(s) -
Hushak Leroy J.,
Winslow Jane M.,
Dutta Nilima
Publication year - 1988
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(1988)117<0363:evogls>2.3.co;2
Subject(s) - stizostedion , fishing , perch , fishery , structural basin , economic surplus , recreation , investment (military) , recreational fishing , value (mathematics) , fish <actinopterygii> , geography , agricultural economics , economics , ecology , biology , paleontology , machine learning , politics , political science , welfare , law , market economy , computer science
Recreation demand functions were estimated and economic values were derived for three geographic and fish species components of the private‐boat fishery in Ohioˈs portion of Lake Erie. For two components, i.e., western basin walleye Stizostedion vitreum and yellow perch Perca flavescens samples, gross economic value (willingness to pay) exceeded US$73.00/d when human time was valued at 25% of the wage rate, and consumer surplus (the excess of value over cost) exceeded $3.00/d. In contrast, central basin results showed a gross economic value of $44.00/d and a consumer surplus of $0.40/d. Public investments of $3.00/angler‐day for the western basin and $0.40/angler‐day for the central basin can be justified for maintenance and preservation of the respective fisheries for these uses. If an investment strategy to upgrade the central basin fishery to western basin quality could be developed, public investment of $3.00/angler‐day would be justified to implement such a strategy.