Three Essays on the Valuation of Natural Resources in Recreation and Tourism

This dissertation examines the demand behavior of recreational participants, their preference for resource attributes and their valuations of nature-based outdoor activities and related natural resources. The results are presented in the form of three separate chapters (2, 3 and 4) in journal publication formats. In the context of a recent controversy over the trend in nature-based recreation demand, Chapter 2 estimates the demand for and welfare value of consumptive naturebased recreation (CNR) in the United States and examines if this value changed between 1996 and 2006. Demand is estimated using the travel cost model framework and the standard, truncated and zero-inflated count data models. The hypothesis that the demand for CNR trips was identical in the two sample years is rejected. A demand-supply model shows a downward shift in demand for CNR trips along a negatively sloped long-run supply curve between the two study years implying that CNR is a decreasing cost industry. Although total participation declined between 1996 and 2006, results suggest that per capita willingness to pay (WTP) for CNR, in 2006 constant dollars, was higher in 2006. However, declined participation offset the higher per capita WTP in 2006 and resulted in an aggregate economic value of CNR not significantly different from that in 1996. An important unresolved issue regarding inconsistencies in welfare measures from truncated and untruncated count data models is also addressed in this paper. Results suggest that welfare estimates from truncated models may not be appropriate for