NONMARKET VALUE OF WESTERN VALLEY RANCHLAND USING CONTINGENT VALUATION
By: Rosenberger, Randall S.; Walsh, Richard G.
Rosenberger, Randall S.; Walsh, Richard G., NONMARKET VALUE OF WESTERN VALLEY RANCHLAND USING CONTINGENT VALUATION, Journal of Agricultural and Resource Economics, Volume 22, Issue 2, December 1997, Pages 296-309
With the irreversible loss of agricultural land to develop uses in certain areas, there is increased concern that land be preserved for posterity's sake. We estimate the nonmarket value of a ranchland protection program in the Yampa River Valley in Routt County, Colorado, including the Steamboat Springs resort. The case study builds on previous land preservation studies by adding several preferences indicators. We find that local residents' willingness to pay is substantial, but insufficient, to justify protecting the existing quantity of valley ranchland in the study area.