New working paper: The Aggregate Economic Value of Great Lakes Recreational Fishing Trips – InvestingsDontLie

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New working paper: The Aggregate Economic Value of Great Lakes Recreational Fishing Trips

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The Aggregate Economic Value of Great Lakes Recreational Fishing Trips

John C. Whitehead, Louis Cornicelli, Lisa Bragg and Rob Southwick

Abstract: We use the contingent valuation method in a survey of Great Lakes anglers to estimate the willingness to pay for a Great Lakes recreational fishing trip. Employing various assumptions and models, we find that the willingness to pay for a trip ranges from $54 to $101 ($2020). We then combine the willingness to pay per trip estimates with an estimate of the number of trips and find that the aggregate economic value of Great Lakes fishing trips in the U.S. is $611 million. We conduct a sensitivity analysis over the estimates of willingness to pay and the number of trips and estimate that the 90% confidence interval around the mean estimate of $632 million is ($182.5, $1,553) million.

URL: https://econpapers.repec.org/paper/aplwpaper/24-11.htm

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