학제간연구 | Interdisciplinary Studies in Gambling | 跨学科研究
- date : 2015-05-20 01:10|hit : 1348
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- Article] An empirical study of option prices for hunting permits
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DocNo of ILP: 4184
Doc. Type: Article
Title: An empirical study of option prices for hunting permits
Authors: Nguyen, TN; Shaw, WD; Woodward, RT; Paterson, R; Boyle, K
Full Name of Authors: Nguyen, To N.; Shaw, W. Douglass; Woodward, Richard T.; Paterson, Robert; Boyle, Kevin
Keywords by Author: option price; lottery-rationed hunting; referendum contingent valuation; RUM
Keywords Plus: UNCERTAINTY; WELFARE; UTILITY; LOTTERIES
Abstract: Using data from a 1992 survey of Maine hunters, we estimate the willingness to pay for a program that would eliminate the risk of non-participation in an otherwise lottery-rationed moose hunting system. We develop an empirical model to estimate the option price (OP) hunters have for eliminating this risk, based on survey data. We find an estimated OP to eliminate the non-participation risk associated with the lottery system of over $380. The estimated results are compared with the results of 12 years of management experience. We also provide a modest ex-post analysis and overview of an auction of a small number of licenses occurring since 1998. Based on the estimates from the model and survey data, we believe that moose management strategies in recent years would pass a benefit-cost test. (c) 2006 Elsevier B.V. All rights reserved.
Cate of OECD: Biological sciences
Year of Publication: 2007
Business Area: other
Detail Business: election
Country: Netherlands
Study Area:
Name of Journal: ECOLOGICAL ECONOMICS
Language: English
Country of Authors: Texas A&M Univ, College Stn, TX 77843 USA; Virginia Tech, Blacksburg, VA USA
Press Adress: Nguyen, TN (reprint author), Texas A&M Univ, College Stn, TX 77843 USA.
Email Address: nguyento@tamu.edu
Citaion:
Funding:
Lists of Citation: Akabua KM, 1999, CAN J AGR ECON, V47, P165, DOI 10.1111/j.1744-7976.1999.tb00389.x; Ananda J, 2005, ECOL ECON, V55, P408, DOI 10.1016/j.ecolecon.2004.12.015; BOXALL PC, 1995, CAN J AGR ECON, V43, P119, DOI 10.1111/j.1744-7976.1995.tb00111.x; Buschena DE, 2001, J ENVIRON ECON MANAG, V41, P33, DOI 10.1006/jeem.2000.1129; Cameron TA, 2005, J PUBLIC ECON, V89, P283, DOI 10.1016/j.jpubeco.2004.01.005; Cameron TA, 1997, RAND J ECON, V28, pS45, DOI 10.2307/3087455; GRAHAM DA, 1981, AM ECON REV, V71, P715; HANEMANN WM, 1984, AM J AGR ECON, V66, P332, DOI 10.2307/1240800; JINDAPON P, 2006, OPTION PRICE NON EXP; LOOMIS J, 1982, J LEISURE RES, V1, P117; Riddel M, 2006, J RISK UNCERTAINTY, V32, P131, DOI 10.1007/s11166-006-8290-0; Scrogin D, 2000, J AGR RESOUR ECON, V25, P501; Scrogin DO, 2003, LAND ECON, V79, P137, DOI 10.2307/3146863; SHAW WD, 2005, INT YB ENV RESOURCES; SHAW WD, 2006, U COL EPA WORKSH ENV; SMITH VK, 1992, SOCIAL RESPONSE ENV
Number of Citaion: 16
Publication: ELSEVIER SCIENCE BV
City of Publication: AMSTERDAM
Address of Publication: PO BOX 211, 1000 AE AMSTERDAM, NETHERLANDS
ISSN: 0921-8009
29-Character Source Abbreviation: ECOL ECON
ISO Source Abbreviation: Ecol. Econ.
Volume: 63
Version: 41673
Start of File: 476
End of File: 484
DOI: 10.1016/j.ecolecon.2006.12.006
Number of Pages: 9
Web of Science Category: Ecology; Economics; Environmental Sciences; Environmental Studies
Subject Category: Environmental Sciences & Ecology; Business & Economics
Document Delivery Number: 190VU
Unique Article Identifier: WOS:000248089500022
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