Bennear, Lori; Stavins, Robert; Wagner, Alexander - In: Journal of Regulatory Economics 28 (2005) 2, pp. 157-179
We develop and apply a new method for estimating the economic benefits of an environmental amenity. The method is based upon the notion of estimating the derived demand for a privately traded option to utilize an open access good. In particular, the demand for state fishing licenses is used to...