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Valuing Recreation Benefits of Natural Springs in Florida

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Submitted:

19 August 2018

Posted:

20 August 2018

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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.
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Subject: Business, Economics and Management  -   Economics
Copyright: This open access article is published under a Creative Commons CC BY 4.0 license, which permit the free download, distribution, and reuse, provided that the author and preprint are cited in any reuse.
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