SIZE MATTERS: THE ECONOMIC VALUE OF BEACH EROSION AND NOURISHMENT IN SOUTHERN CALIFORNIA

Despite the widespread use of nourishment in California, few studies estimate the welfare benefits of increased beach width. This paper relies on panel data funded by National Oceanic and Atmospheric Administration and other agencies. Beach choices of respondents were combined with beach attribute data to reveal how changes in width affect choice and the economic value of beach visits. We use a random-utility approach to show that the value of beach width varies for different types of beach uses: water contact, sand-, and pavement-based activities. We also find that the marginal value of beach width depends on initial beach width. (JEL Q50)