Regional Economics Commons^™

The Economic Value Of Water Recreation In Minnesota, Raymond L. Raab, Donald N. Steinnes

Journal of the Minnesota Academy of Science

In recent years, increased demands for water for competing uses created a need for establishing a systematic water resource management policy. Knowledge of the value of benefits of water in its various uses is necessary for allocation decisions because this resource is in the public domain. This paper discusses several non-market methods of imputing the economic value of water, particularly recreational water use. Using Minnesota Department of Natural Resources (DNR) data, two alternative techniques for measuring value ~re evaluated and compared. These methods are used to provide empirical estimates of the recreational value that people place on Minnesota's water resources. …