A benefit-cost analysis of a red drum stock enhancement program in South Carolina
Recreational saltwater anglers from the mid-Atlantic through the Gulf of Mexico commonly target red drum. Due to concerns about overharvesting within South Carolina coupled with regional management actions, South Carolina explored the technical feasibility of stocking hatchery-produced juvenile red...
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Online Access: | http://dx.doi.org/10.1017/bca.2018.1 https://www.cambridge.org/core/services/aop-cambridge-core/content/view/S2194588818000015 |
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crcambridgeupr:10.1017/bca.2018.1 2024-09-15T18:32:11+00:00 A benefit-cost analysis of a red drum stock enhancement program in South Carolina Rhodes, R. J. Whitehead, J. C. Smith, T. I. J. Denson, M. R. 2018 http://dx.doi.org/10.1017/bca.2018.1 https://www.cambridge.org/core/services/aop-cambridge-core/content/view/S2194588818000015 en eng Cambridge University Press (CUP) https://www.cambridge.org/core/terms Journal of Benefit-Cost Analysis volume 9, issue 2, page 323-341 ISSN 2194-5888 2152-2812 journal-article 2018 crcambridgeupr https://doi.org/10.1017/bca.2018.1 2024-06-26T04:04:12Z Recreational saltwater anglers from the mid-Atlantic through the Gulf of Mexico commonly target red drum. Due to concerns about overharvesting within South Carolina coupled with regional management actions, South Carolina explored the technical feasibility of stocking hatchery-produced juvenile red drum as a technique to augment the abundance of South Carolina stock. In order to assess a continued program, in 2005 a mail survey was used to collect data for estimating the economic benefits with the contingent valuation method. The theoretical validity of willingness to pay was assessed by comparison to the value of a change in red drum fishing trips that would result from the program. Benefits were compared to estimated, explicit stocking costs. We illustrate how a certainty recode approach can be used in sensitivity analysis. The net present values (NPVs) for the stocking program are positive suggesting that the program would have been economically efficient relative to no program. Article in Journal/Newspaper Red drum Cambridge University Press Journal of Benefit-Cost Analysis 9 2 323 341 |
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Open Polar |
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Cambridge University Press |
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crcambridgeupr |
language |
English |
description |
Recreational saltwater anglers from the mid-Atlantic through the Gulf of Mexico commonly target red drum. Due to concerns about overharvesting within South Carolina coupled with regional management actions, South Carolina explored the technical feasibility of stocking hatchery-produced juvenile red drum as a technique to augment the abundance of South Carolina stock. In order to assess a continued program, in 2005 a mail survey was used to collect data for estimating the economic benefits with the contingent valuation method. The theoretical validity of willingness to pay was assessed by comparison to the value of a change in red drum fishing trips that would result from the program. Benefits were compared to estimated, explicit stocking costs. We illustrate how a certainty recode approach can be used in sensitivity analysis. The net present values (NPVs) for the stocking program are positive suggesting that the program would have been economically efficient relative to no program. |
format |
Article in Journal/Newspaper |
author |
Rhodes, R. J. Whitehead, J. C. Smith, T. I. J. Denson, M. R. |
spellingShingle |
Rhodes, R. J. Whitehead, J. C. Smith, T. I. J. Denson, M. R. A benefit-cost analysis of a red drum stock enhancement program in South Carolina |
author_facet |
Rhodes, R. J. Whitehead, J. C. Smith, T. I. J. Denson, M. R. |
author_sort |
Rhodes, R. J. |
title |
A benefit-cost analysis of a red drum stock enhancement program in South Carolina |
title_short |
A benefit-cost analysis of a red drum stock enhancement program in South Carolina |
title_full |
A benefit-cost analysis of a red drum stock enhancement program in South Carolina |
title_fullStr |
A benefit-cost analysis of a red drum stock enhancement program in South Carolina |
title_full_unstemmed |
A benefit-cost analysis of a red drum stock enhancement program in South Carolina |
title_sort |
benefit-cost analysis of a red drum stock enhancement program in south carolina |
publisher |
Cambridge University Press (CUP) |
publishDate |
2018 |
url |
http://dx.doi.org/10.1017/bca.2018.1 https://www.cambridge.org/core/services/aop-cambridge-core/content/view/S2194588818000015 |
genre |
Red drum |
genre_facet |
Red drum |
op_source |
Journal of Benefit-Cost Analysis volume 9, issue 2, page 323-341 ISSN 2194-5888 2152-2812 |
op_rights |
https://www.cambridge.org/core/terms |
op_doi |
https://doi.org/10.1017/bca.2018.1 |
container_title |
Journal of Benefit-Cost Analysis |
container_volume |
9 |
container_issue |
2 |
container_start_page |
323 |
op_container_end_page |
341 |
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1810473942365765632 |