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Opening a Public Recreation Area to Revitalize Coastal Communities and Preserve Natural Resources in Louisiana: The Case of Elmer's Island

Published online by Cambridge University Press:  28 April 2015

Krishna P. Paudel ,
Rex H. Caffey ,
Nirmala Devkota  and
Larry M. Hall
Krishna P. Paudel
Affiliation:
Center for Natural Resource Economics and Policy, Department of Agricultural Economics and Agribusiness, Louisiana State University, Baton Rouge, LA
Rex H. Caffey
Affiliation:
Center for Natural Resource Economics and Policy, Department of Agricultural Economics and Agribusiness, Louisiana State University, Baton Rouge, LA
Nirmala Devkota
Affiliation:
Center for Natural Resource Economics and Policy, Department of Agricultural Economics and Agribusiness, Louisiana State University, Baton Rouge, LA
Larry M. Hall
Affiliation:
Center for Natural Resource Economics and Policy, Department of Agricultural Economics and Agribusiness, Louisiana State University, Baton Rouge, LA
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Abstract

The income capitalization approach is used, based on expenditure and nonmarket values collected from travel-cost and contingent valuation methodologies, to measure the feasibility of running a self-sustaining recreational site in coastal Louisiana. Through Internet and intercept surveys, a total of 2,696 respondents, 88% of them anglers, provided information on economic expenditures, destination preferences, and preferences for specific site amenities regarding Elmer's Island. The purchase and subsequent opening of the area to the public were found to be self-sustaining even when considering conservative economic estimates.

Keywords

coastal community revitalizationmarket valuationnonmarket valuationpublic purchase of private recreational areaO13Q26

Information

Type
Invited Paper Sessions
Information
Journal of Agricultural and Applied Economics , Volume 37 , Issue 2 , August 2005 , pp. 475 - 484
Copyright
Copyright © Southern Agricultural Economics Association 2005

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