Economic Values of Dolphin Excursions in Hawaii: A Stated Choice Analysis

WUYANG HU

doi:10.5950/0738-1360-24.1.61

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WUYANG HU^1,*

¹University of Kentucky

^*Wuyang Hu is an assistant professor in the Department of Agricultural Economics, University of Kentucky, Lexington, KY 40546 (email: wuyang.hu@uky.edu).

Abstract

This study analyzes individuals' choice and the implied economic values associated with spinner dolphin excursions in Hawaii based on a stated preference survey. A mixed error component choice model is used to analyze respondents' preferences. Respondents are found to be highly heterogeneous in their choices depending on both the observed and unobserved individual characteristics, while the derived marginal values are also moderately different across respondents. The results of this analysis have implications for dolphin excursion operators and for policy makers managing Hawaii's ocean resources.

JEL Classification Codes: Q26, D12

Citation Download Citation

WUYANG HU "Economic Values of Dolphin Excursions in Hawaii: A Stated Choice Analysis," Marine Resource Economics 24(1), 61-76, (1 March 2009). https://doi.org/10.5950/0738-1360-24.1.61

Published: 1 March 2009