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Estimating Economic Values for Nature presents, in one volume, a collection of V. Kerry Smith's papers prepared over 25 years dealing with the theory and practice of non-market valuation for environmental resources. Taken together, the papers explore the conceptual basis, the implementation process and empirical performance of all available methods of measuring economic values for the services of nature and how these values are constructed from people's choices. The issues discussed in this volume include travel cost recreation demand, averting behaviour, household production, hedonic property value, hedonic wage and contingent valuation methods. These essays describe what has been learned from past benefit analysis, using meta-analysis, as well as the issues at the frontier of current research in the area. This important volume will be welcomed by environmental and public economists, as well as practitioners of cost-benefit analysis, as an authoritative and comprehensive discussion of non-market valuation.
This report summarizes more than 30 years of the literature on net economic value of outdoor recreation on public lands. The report provides average net willingness to pay or consumer surplus per day for 30 recreation activities at the national level. Values per day by recreation activity are also presented by census region of the United States. Detailed tables provide the average value per day as well as the standard error for calculating confidence intervals. Guidance for using these values in performing benefit transfer to unstudied sites is also provided. The report provides a link to a Web site where the spreadsheet that underlies the averages calculated in this report is available.