TR 54 - Review of Outdoor Recreation Economic Demand Studies with Nonmarket Benefit Estimates, 1968-1988 R.G. Walsh, D.M. Johnson, and J.R. McKean, December 1988

While issues in estimating nonmarket values continue to cause concern, resource economists now have more reason to be optimistic than ever before. More progress toward improved measurement has been made in the past five years than in the previous quarter century since development of the contingent valuation and travel cost methods. The new challenge is to learn how to adjust past studies to estimate nonmarket values for future policy analysis. The process involves developing an understanding of the important variables that explain the observed differences in estimates. This paper illustrates how the results thus far could be adjusted to develop some tentative estimates of the recreation use value of Forest Service resources.