Valuing Recreation Benefits of Natural Springs in Florida

Fresh water springs are unique natural resources in Florida, currently under threat from increasing groundwater pumping and pollution resulting from a variety of sources. This paper estimates current recreation benefits from visiting springs using the travel cost method and elicits residents’ willingness to contribute for springs restoration using the contingent valuation method. It further compares the performance of count data models correcting for endogenous stratification and truncation, and finds that the annual consumer surplus per person per trip is between $20 and $43. Furthermore, visitors are willing to contribute $12 to $14 per person per trip for springs restoration without reducing trip demand.