Exam 1 Flashcards
what is the 30k foot perspective?
outdoor recreation matters to us and our outdoor resources are scarce so we face tradeoffs between recreation and other needs of society. we can measure these benefits of management options to make decisions with the goal of maximizing the wellbeing of society
what are the steps of a project analysis?
define: the problem and objectives, identify: the alternative courses of action, estimate: the effects of each alternative, value: the effects of benefits and costs, and choose: the most beneficial alternative relative to costs
MASTER THE ECONOMIC FRAMEWORK FOR RECREATION
look at picture whe this card comes up
who manages outdoor recreation land?
BLM, USFS, NPS
BLM:
bureau of land management, within department of interior, nations largest landlord
USFS
us forest service, within department of ag
NPS
national parks service, within department of ag
issues in access to outdoor recreation:
deferred maintenance, high cost of management, barriers to access, opportunity cost
deferred maintenance:
high cost of management, historically not keeping up with investments
public funding for agencies that manage public lands and provide rec opportunities: land and water conservation acts, great american outdoors act
barriers to access:
historical factors, cultural traumas, can’t afford to get off work
opportunity costs of federal lands:
extraction, harvesting timber
policy options to issues of access to recreation
fees, taxes, state and national level
why do people like outdoor recreation?
active: physically strenuous exercise with excitements
passive: less effort, comfortable
extract: hunting, fishing
appreciative: hiking, backpacking
learning: informative walks, guided tours, whale watching
which costs matter?
entrance fees, transportation and travel costs, on site cost, accommodations and food
demand curves for recreation:
relationship between price and quantity: price is total cost of participation: transportation costs, travel times, entrance fees
demand curves are used in recreation economics to:
assess how quantity of recreation will respond to price changes and estimate benefits (net WTP, Consumer Surplus)
how would a change in site quality be represented in the demand curve?
an increase in site quality would increase the price of the recreation and consumer surplus, shift demand curve out
what is a multiple regression analysis?
a tool for estimation when faced with noisy data
what are determinants of demand?
socioeconomic and demographic characteristics, site quality, substitutes, travel time, congestion, tastes and preferences, these are the shifters of the demand curve
effect of substitute site on demand for a rec site
- substitutes will result in more price elastic demand curve for any one site
- a price increase will shift demand curve in if there are a lot of substitutes
- no substitutes will give a steeper demand curve (inelastic)
