Using data from what was once one of the world’s largest capture fisheries, the northern cod fishery, the economic value of a marine reserve is calculated using a stochastic optimal control model with a jump-diffusion process. Counterfactual analysis shows that with a stochastic environment an...

A serious problem facing fisheries managers is how to improve estimates of the distortion in stock assessments resulting from "fouling" of commercial catch data. We propose a simple analytical model of discarding and high-grading, and estimate the "data fouling factor"—the wedge between what...

This manuscript presents the results of a random utility model that estimates site choice decisions for urban recreators. The model uses data from residents in five northern New Jersey counties that contain some of the most densely populated areas in the United States. In addition to including...

We consider the implications of narrow choice sets on welfare estimation in a random utility model of recreation demand. We hypothesize that careful formulation of the choice set focusing on the sites of policy interest and their closest substitutes will give reasonably accurate welfare...

The yellow floating heart is a water weed causing nuisance problems in Swedish watercourses. An economic analysis where various management options are considered is required. Using a choice experiment, we estimate the benefits of a weed-management program and perform a cost-benefit analysis. In...

Hunting leases are impacting rural land values. Using land sales transactions in northern Mississippi, this study quantified how hunting lease income affects forestland value, while controlling for sale attributes, county attributes, and ecosystem differences. Estimation procedures included...

This paper empirically investigates the factors influencing the preference of a visitor over three rationing systems. The First-Come-First-Served system is preferred by young, short-distance visitors. A Variable Admission Fee system is preferred by visitors of a high household disposable income,...

We are concerned with the definition of choice set used in Random Utility Models of recreation demand. In particular, we are concerned with the spatial boundaries used to define choice sets. In this paper, using a model of day-trip fishing in Maine, we examine the sensitivity of parameter and...

In this paper we analyze the exploitation of wildlife in a Third World context. In the model there are two agents: an agency managing a habitat area of fixed size and a group of peasants. The agency managing the habitat area has the legal right to exploit the wildlife, while the local people...