The authors use time-series, cross-section, and panel data sets to see whether U.S. National Park System operating budget appropriations are related to inflation, visitation, size, region of the country, and type of park unit. The growth rate of the aggregate National Park Service (NPS) budget...

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...