Article
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Preserved in Portico This version is not peer-reviewed
Valuing Recreation Benefits of Natural Springs in Florida
Version 1
: Received: 19 August 2018 / Approved: 20 August 2018 / Online: 20 August 2018 (05:37:01 CEST)
A peer-reviewed article of this Preprint also exists.
Wu, Q.; Bi, X.; Grogan, K.A.; Borisova, T. Valuing the Recreation Benefits of Natural Springs in Florida. Water 2018, 10, 1379. Wu, Q.; Bi, X.; Grogan, K.A.; Borisova, T. Valuing the Recreation Benefits of Natural Springs in Florida. Water 2018, 10, 1379.
Abstract
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.
Keywords
travel cost method (TCM); contingent valuation (CV); consumer surplus (CS); willingness to pay (WTP); endogenous stratification; springs
Subject
Business, Economics and Management, Economics
Copyright: This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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