annotated bibliography of fisheries economics literature - Office of ...

26.
This paper reviews research on nonmarket valuation. It seeks to gauge
whether the methods are up to the tasks demanded of them and to identify new
research priorities. The evaluation suggests that we can outline a protocol
for implementing and using the methods with some resources, while for other
resources our experience is still developing. Because the demands for
valuation information are increasing as fast as our understanding of
measurement methods is advancing, the next step in development requires
defining a systematic commodity structure for environmental services with
the needs for valuation measures providing conceptual underpinnings.
Smith, V. Kerry (1993). "Welfare Effects, Omitted Variables, and the
Extent of the Market." Land Economics, 69(2): 121-131.
This paper offers an economic interpretation of Kling s (1989) finding
that single price change measures of consumer surplus will provide an unbiased
measure for a multiple price change, provided the prices are perfectly
correlated. The explanation lies in recognizing that correlation in this case
serves to define the commodity extent-of-the-market. Using this link, the
paper demonstrates how the insights involved in defining general equilibrium
demand functions or equivalently residual demand models can be adapted to fit
the issues raised with travel cost models in accounting for the effects of
substitutes.
Smith, V. Kerry and William H. Desvousges (1986). Measuring Water
Quality Benefits. Kluwer-Nijhoff Publishing, Boston.
This book reviews alternative approaches for estimating recreation and
related benefits of water quality.
Smith, V. Kerry and Yoshiaki Kaoru (1987). "The Hedonic Travel Cost
Model: A View from the Trenches." Land Economics, 63(2):179-192.
The hedonic travel cost framework recognizes that individuals' decisions
to visit recreation sites can be used to estimate implicit prices for the
characteristics of these sites. Moreover, with these prices and individuals'
consumption choices, the demands for characteristics can also be recovered.
However, the actual process of implementing the model requires a substantial
amount of information on households' recreation decisions as well as some
detailed models.
Smith, V. Kerry and Raymond J. Kopp (1980). "The Spatial Limits of the
Travel Cost Recreational Demand Model." Land Economics, 56(1):64-
72.
This article describes a method for judging the spatial limits of travel
cost recreational demand models as they are conventionally applied to
secondary data sets. The spatial limits result from the assumptions necessary
to use the available secondary data to estimate the representative
individual's demand for a given recreational site's services including (a) the
objective of the trip to the recreational site; (b) the amount of time spent
on the site during each trip, and (c) the mode of travel and corresponding
travel costs required to reach the site. A statistical test for the stability
of the estimated demand functions' parameters provides an empirical basis for
determining the extent to which the required assumptions are consistent with
given samples. Further it is possible to adjust the composition of the sample
of origin zones used in deriving final demand estimates to reflect these
bounds.
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