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Economic Value of Angling at a Reservoir with Low Visitation
Author(s) -
Chizinski Christopher J.,
Pope Kevin L.,
Willis David B.,
Wilde Gene R.,
Rossman Edwin J.
Publication year - 2005
Publication title -
north american journal of fisheries management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.587
H-Index - 72
eISSN - 1548-8675
pISSN - 0275-5947
DOI - 10.1577/m03-102.1
Subject(s) - liberian dollar , fishing , economic surplus , value (mathematics) , marginal value , economics , opportunity cost , fishery , natural resource economics , business , agricultural economics , microeconomics , statistics , finance , mathematics , biology , welfare , market economy
A travel cost model was used to estimate the per‐day consumer surplus for anglers at a reservoir (Lake Kemp, Texas) with low visitation. The average per‐day consumer surplus for anglers was $61–122, depending on the wage rate fraction assigned to the opportunity cost of time. Although this consumer surplus value is small, anglers on the numerous smaller public and private water bodies may, in aggregate, generate a majority of the economic value for freshwater angling. Further, the marginal value per dollar spent managing small water bodies is probably large. Arguably, greater attention should be directed toward managing our nation's numerous smaller water bodies.