Journal
COASTAL MANAGEMENT
Volume 41, Issue 1, Pages 75-86Publisher
TAYLOR & FRANCIS INC
DOI: 10.1080/08920753.2012.749754
Keywords
beach recreation; choice experiments; contingent valuation method; non-market valuation
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Maintaining beach water quality and cleanliness of shorelines is expensive. Demonstrating that water quality regulations and shoreline maintenance are economical is aided by defensible non-market values. Defensible values are robust to the chosen valuation method. This article compares values from the contingent valuation method (CVM) and choice experiments (CE). Using a survey of beach visitors, our results show that the increased economic value per visitor day for increasing beach water clarity is estimated by CVM at $54 ($3973 CI), while CE estimated $51 ($3470 CI). Eliminating trash on beaches is estimated using CVM at $103 ($83131 CI) while CE estimated $98 ($77126 CI) per visitor day. A comparison of the two methods benefit estimates shows that CE and CVM 90% confidence intervals overlap, indicating statistically equivalent values. This indicates defensible values of the two valuation methods. Our analysis suggests managers can have some confidence in non-market valuation.
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