Economic Value of Idaho Sport Fisheries with an Update on Valuation Techniques

Abstract

Improvements in nonmarket valuation techniques were explored, especially as they apply to sportfishing in Idaho. Definitions and appropriate use of the terms expenditures, consumer surplus, net value, and maximum net revenue are clarified. Advancement in the travel cost and contingent value methods are outlined. Travel cost improvements in the last decade include regional (multisite) specification, incorporation of travel time, quality, and substitutes. Contingent value advancements include valuing primary- and nonprimary-purpose trips, refinements in the survey design, and exploration of changes in values associated with changes in the resource base. The results of a 1983 angler survey of net values for cold-water, warmwater, and steelhead (Salmo gairdneri) fishing were $42.93, $42.18, and $27.87 per day, respectively, according to the travel cost method. By the contingent value method, net cold-water, warmwater, and steelhead fishing values per day were $22.52, $16.35, and $31.45, respectively.