Natural Resource Economics Commons^™

Artificial Reef Attributes And The Relationship With Natural Reefs: Evidence From The Florida Keys, William L. Huth, O. Ashton Morgan, Paul Hindsley

Journal of Ocean and Coastal Economics

Natural or coral reefs represent extremely valuable ecosystems supporting an estimated 25 percent of all marine life, yet recent reports suggest that 75 percent of the world’s natural reefs are under threat from both natural and human stressors. In areas such as the Florida Keys that boasts an expansive mix of natural and artificial reefs, recreational diving on the system provides an important economic contribution to the local community but also potentially contributes to the stress of the existing natural reef system. We develop a revealed and stated preference modeling framework of diver behavior and find that deployment of an …

Economic Valuation Of Marine And Coastal Ecosystems: Is It Currently Fit For Purpose?, Nick Hanley, Stephen Hynes, David Patterson, Niels Jobstvogt

Journal of Ocean and Coastal Economics

In this paper, we consider whether the current “state of the art” of environmental valuation is suitable for producing policy-relevant estimates of the benefits or costs of changes in marine and coastal ecosystems. We review recent changes in European legislation which has meant an increasing demand for economic valuation from the policy and regulatory community. The next section considers, at a more conceptual level, whether the economic “toolbox” and scientific evidence is up to the task of meeting the demand for more evidence-based policy. Finally, three case studies are used to explore the nature of the valuation task and review …

Using Choice Experiment Valuation Methods To Measure Public Preference For A New National Park In Maine, Alexander G. Wilsterman

Journal of Environmental and Resource Economics at Colby

With global population increasing faster than ever, the need to protect land from development is at an all-time high. This paper seeks the measure the public preference for a new national park located in northern Maine. A national park will both protect the land and inject a much-needed economic stimulus to the surrounding communities. The study uses the choice experiment valuation method to quantify its results. Through this revealed preference we can quantify which characteristics are most important to the public so that these characteristics may be considered if the project is ever approved.

Golf Courses In Maine: Land Type Valuation Versus A Hedonic Pricing Analysis, Gregory Ladd, Jason Buco

Journal of Environmental and Resource Economics at Colby

Many studies have been conducted analyzing the economic impact of golf courses on the local communities. These studies examine economic impacts of tournaments, endorsements, and vacation expenses of the major golf courses in the United States. However, there is little research conducted on the environmental impact of Golf courses, specifically in Maine. This paper performs a hedonic pricing analysis using housing prices in proximity to golf courses and compares it to the valuation of various land types in Maine. Housing prices were collected in the towns of Auburn, and North Yarmouth both near and distant from the local golf course. …

Converting Croplands To Grassland: A Spatial Analysis Of The Economic Feasibility Of Soil Greenhouse Gas Mitigation In Midwest, United States, Paco C. Defrancis

Journal of Environmental and Resource Economics at Colby

The global agriculture sector is responsible for close 20% of the aggregate anthropogenic greenhouse gas (GHG) emissions emitted since the start of the industrial age. Much of these emissions are attributed to the degradation of soils due to land use change when native ecosystems were converted to agricultural fields. Soil organic carbon (SOC) has been found to decrease in temperate soils when the native (such as a forest or grassland) ecosystem is replace by croplands. The aggregate amount of organic carbon stored in soils globally is estimated be 3.3x the size of the atmospheric carbon pool. Further soil degradation and …

Cost Benefit Analysis Of Café Standards Compared To The Alternative Fuel/Carbon Tax, Brian Levinson

Journal of Environmental and Resource Economics at Colby

The Cafe Standards were introduced in 1975 following the Oil Embargo. The goals of this program were simple. To reduce co2 emissions in vehicles by increasing a mandatory average mpg level for car manufacturers in the United States. Recently, in 2012, the Obama Administration set new Cafe Standard requirements for car manufacturers. By 2025, all new cars on the road in the United States must average 54.5 miles per gallon, which would double the current 27 mpg average in place right now. While the intentions of this policy are to reduce co2 emissions while at the same time increasing savings …

The Economics Of The Audubon Society's Sanctuary Program For Golf Courses, Dan Hyszczak

Journal of Environmental and Resource Economics at Colby

Millions of people play golf every year, and in 2011 Golf Courses gained $22 billion dollars in revenue. This statistic combined with golf’s inherent place in the natural environment lead to questions of value and development for golf course owners. In 1991, The Audubon Society created their Cooperative Sanctuary Program for Golf Courses (ACSP) to promote environmentally sustainable practices for golf courses and to recognize the courses that are the most environmentally in both the United States and around the world.

This paper builds off of prior research that connects golf course beauty with revenue by examining the effects of …

Preferences For Coral Reef And Fishery Management In Okinawa, Japan, Nils Carlson

Journal of Environmental and Resource Economics at Colby

This study is an example of how a nonmarket valuation method – a choice experiment – can be used to influence and guide ecosystem conservation efforts. Using a choice experiment survey, this study estimates the willingness to pay (WTP) for certain hypothetical attributes of a restored and conserved coral reef in Okinawa, Japan. I find that an increase in the amount of fish available to catch in ten years as well as an increase in the extent and health of the coral reefs and the number of marine biodiversity found in the Okinawan waters after ten-years, both positively affect respondent’s …

An Exploratory Statistical Analysis Of The External And Internal Effects Of Art Museums In The United States, John Eder

Journal of Environmental and Resource Economics at Colby

An Exploratory Statistical Analysis of the External and Internal Effects of Art Museums in the United States

The Value Of Dune Width In Avalon, New Jersey: A Hedonic Pricing Analysis, Matt Mignon

Journal of Environmental and Resource Economics at Colby

Previous research on the economics of coastal housing markets has proven that housing values along the east coast of the United States capitalize on the attributes of local beaches. These recent studies document two important findings: that beach width positively affects coastal property values and that there is a proximity effect, in which distance from the beach plays a significant role in the capitalization of local beach attributes. This paper builds upon these findings to explore the influence that dune width has on coastal property values in Avalon, New Jersey. I hypothesize that as dune width increases, local property values …

Invited Introduction To Jerec, Noelwah Netusil

Journal of Environmental and Resource Economics at Colby

No abstract provided.

Welcome By The Editor, Sahan T. M. Dissanayake

Journal of Environmental and Resource Economics at Colby

No abstract provided.

The Himalayan Gold Rush The Untold Consequences Of Yartsa Gunbu In The Tarap Valley, Noah Stone

Independent Study Project (ISP) Collection

Despite the fact that it has been used in tradition medicine for centuries, the caterpillar fungus known as yartsa gunbu (Othiocordyceps sinensis), has only become a popular medical supplement in the last fifteen years. Demand in China has driven what has been dubbed ‘the Himalayan gold rush’, a scramble for the fungus that has utterly transformed the agro-pastoral economies of the remote Himalayan regions where cordyceps is found. In many cases, the locals have prospered economically from the commodification of yartsa gunbu. In one such region of Nepal, the Tarap valley of the Dolpa district, while the villagers have benefitted …

Taming The Teesta: Exploring The Holistic Effects Of Hydroelectric Dam Development On The Teesta River Through Documentary Film, Taylor Graham

Independent Study Project (ISP) Collection

Since time immemorial, the Lepcha people have called the Himalayan region that makes up the modern state of Sikkim their home and have held sacred the rivers, mountains, and forests that make up the biologically diverse region. Over the past two decades, India’s rapid development has generated a powerful thirst for electricity, and the country has increasingly looked to the cold, powerful rivers thundering from the Himalayas to supply that desired power. Hydroelectric projects have been proposed and implemented throughout the Himalayan region. Nowhere, however, are the dams as numerous or their effects as acutely felt as in India’s northwestern …

Signed Peer Reviews As A Means To Improve Scholarly Publishing, Linwood H. Pendleton

Journal of Ocean and Coastal Economics

Peer review is a necessary process with a long history of complaints, including over-solicitation of a small number of reviewers, delays, inadequate numbers of reviewers, and a lack of incentives to provide strong reviews or avoid reviews with little helpful information for the author. In the era of Web-based distribution of research, through working paper or project reports, anonymous peer reviews are much less likely. The Journal of Ocean and Coastal Economics will use signed peer reviews and an open communication process among authors, reviewers, and editors. This approach, to be developed over time, should lead to stronger communication of …

The Evolution Of Non-Market Valuation Of U.S. Coastal And Marine Resources, Douglas Lipton, Dan K. Lew, Kristy Wallmo, Peter Wiley, Anthony Dvarskas

Journal of Ocean and Coastal Economics

At the federal level, particularly within the National Oceanic and Atmospheric Administration (NOAA), regulatory and programmatic needs have driven the continued development and application of non-market valuation approaches to marine and coastal resources. The evolution of these valuation approaches not only entails adopting the recommendations of the 1993 NOAA blue ribbon panel on contingent valuation, but also an expansion of stated preference approaches with increased use of stated preference choice experiments. Revealed preference approaches have also advanced with more sophisticated random utility models. We provide an overview of this evolution in the areas of natural resources damage assessment, protected resources, …

Developing A Comparative Marine Socio-Economic Framework For The European Atlantic Area, Naomi S. Foley, Rebecca Corless, Marta Escapa, Frances Fahy, Javier Fernandez-Macho, Susana Gabriel, Pilar Gonzalez, Stephen Hynes, Regis Kalaydjian, Susana Moreira, Kieran Moylan, Arantza Murillas, Michael O'Brien, Katherine Simpson, Dugald Tinch

Journal of Ocean and Coastal Economics

Availability and easy access to a wide range of natural and human-activity data on the oceans and coastal regions of Europe is the basis for strategic decision-making on coastal and marine policy. Strategies within Europe’s Integrated Maritime Policy, including the Maritime Strategy for the Atlantic Area, Blue Growth, Maritime Spatial Planning and Marine Data and Knowledge, require coherent and comparable socio-economic data across European countries. Similarly, the Marine Strategy Framework Directive requires member states to carry out economic and social analysis of their waters and the reformed Common Fisheries Policy includes a social dimension requiring socio-economic data. However, the availability …

Assessing The Economic Costs Of Water Pollution In The Yangtze River, China, Xiaoli Zhang

Journal of Ocean and Coastal Economics

Water pollution of the Yangtze River basin is very serious. Studies have shown that from the upper to the lower river, the water volume decreases and development and pollution increase, especially in trans-boundary areas. The Yangtze Estuary is located at the intersection of Jiangsu Province and Shanghai where the waters flow directly into the East China Sea. The estuary provides drinking water to many people and serves multiple other functions, including agricultural irrigation, tourism, and aquaculture. It plays a pivotal role in the local social and economic development and in people’s general wellbeing. Directly or indirectly, the pollution of the …

What Have We Learned From The Deepwater Horizon Disaster? An Economist’S Perspective, Daniel R. Petrolia

Journal of Ocean and Coastal Economics

This paper outlines what we have learned about the impacts of the Deepwater Horizon (DWH) oil disaster from the economics discipline as well as what effect the DWH disaster has had on the economics discipline. It appears that what we know about the economic impact of the DWH spill today is limited, possibly because such analysis is tied up in the federal Natural Resource Damage Assessment (NRDA) process and other state-led efforts. There is evidence, however, that the NRDA process has changed over time to de-emphasize economic valuation of damages. There is also evidence that economists may be producing fewer …