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Valuing non-marketed goods: the case of elk permit lotteries.

Permit allocation methods offer a way of estimating the value of non-marketed elk hunting. Applicants compete for elk hunting permits in Colorado by acquiring preference points that have a monetary cost and by distributing themselves among hunts until their marginal values are equalized. We infer th...

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Published in:Journal of Environmental Economics & Management Vol. 41; no. 1; pp. 33 - 44
Main Authors: Buschena, David E., Anderson, Terry L., Leonard, Jerry L.
Format: Article
Published: Academic Press Inc. January 2001
Subjects:
Contingent valuation
Fish & game licenses
Queuing theory
Marginal utility
Regression analysis
Resource allocation > Mathematical models
Lotteries
Mathematical models of gambling
Elk hunting
Colorado
Online Access:View this record in EBSCOhost
Summary:Permit allocation methods offer a way of estimating the value of non-marketed elk hunting. Applicants compete for elk hunting permits in Colorado by acquiring preference points that have a monetary cost and by distributing themselves among hunts until their marginal values are equalized. We infer the marginal value of permits from the opportunity costs incurred to acquire these permits and use a hedonic regression analysis to estimate the impact of various hunt characteristics on permit value. Copyright 2000 Academic Press.