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Natural and Artificial Reef Valuation - Northwest Florida
This study is on the economic impact and economic value of the recreational use of artificial reefs in a five-county area of northwest Florida. Estimates were produced by county, type of user (resident of county versus nonresident of county), boat mode (e.g., own boat, charter boat, party boat or rental boat) and by activity (fishing or diving). For visitors, economic values were estimated using three methods; (1) travel cost demand model, (2) Dichotomous Choice Contingent Valuation Model (probit and logit models) and (3) Turnbull Method – Contingent Valuation. For residents, economic values were estimated using only the two contingent valuation methods that were used for visitors.
Background
Report Structure
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Background
In 1999, CORE joined with the State of Florida in a study conducted by Dr. Frederick W. Bell and Dr. Mark Bonn of Florida State University. The study was designed to estimate the market economic impact (e.g., sales/output, income and employment) and nonmarket economic use value (consumer’s surplus) of the artificial reefs in a five-county area (Bay, Walton, Okaloosa, Santa Rosa and Escambia counties) in northwest Florida.
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Report Structure
The report, titled Economic Impact and Importance of Artificial Reefs in Northwest Florida (pdf, 852 kb), was designed so that each county would have its own stand-alone chapter (i.e., you need only read the chapter for the county of interest, since the methodologies used are explained in each chapter). Chapter 1 is devoted to Bay County, Chapter 2 to Walton County, Chapter 3 to Okaloosa County, Chapter 4 to Santa Rosa County, and Chapter 5 to Escambia County. Chapter 6 is an executive summary across counties.
The report also contains six appendices. Appendices A–E include the spreadsheets used to calculate market economic impacts associated with artificial reefs of both residents and visitors of each county. Appendix F includes the survey instruments (questionnaires) used in the survey.
Each chapter devoted to a county contains three parts, (1) Visitors to the County, (2) Residents of the County, and (3) Summary of Combined Visitors and Residents. Measurements of visitation and/or recreation use are presented, followed by estimates of market economic impacts for general visitors, boating visitors, and reef-using visitors. Information on reef-user evaluations of artificial reefs is then presented, followed by estimates of nonmarket economic use value. Nonmarket economic use values are estimated using both dichotomous choice contingent valuation methods and the travel cost model method.
Reports
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