Journal
JOURNAL OF ECONOMIC EDUCATION
Volume 33, Issue 4, Pages 347-356Publisher
HELDREF PUBLICATIONS
DOI: 10.1080/00220480209595332
Keywords
market failures; national parks; nonuse values; public goods
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America's national park system is widely admired, but the economic rationale for national parks is not compelling. The author discusses how market failures of various kinds can, in principle, be used to justify national parks. The best rationale for national parks is based on existence or nonuse values rather than on their recreational aspects. The author also shows that more evidence, especially regarding the costs of providing and operating parks and the magnitude of nonuse values, needs to be gathered before the case for national parks becomes compelling. Although this evidence will be difficult to obtain, it is hard to give an economic rationale for national parks without it.
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