Allocation of natural resources has become a prominent concern at the local, state, and federal level. Competing uses for increasingly scarce resources are requiring that the relative values of those uses be investigated. Although many types of value are important in decision making, this book is concerned with the economic value of natural resources. Economic values for certain natural resources are readily observable in markets. For others, however, market prices are not available, and estimates of value must be made through nonmarket valuation techniques. The progress that has been made in improving the theory, methods, and applications of these techniques has been remarkable. Along with the progress, however, come new problems that must be addressed. The chapters presented in this volume are a collection of examples of both progress and problems.

List of Tables -- List of Figures -- Acknowledgments -- Introduction / Rebecca L. Johnson and Gary V. Johnson -- Part I Issues and Perspectives -- The Benefits and Costs of Recreation: Dollars and Sense / George L. Peterson, Beverly L. Driver, and Perry J. Brown – 2 Recreation Management Theory, Economics, and Resource Allocation: A Unifying Perspective / William G. Workman, Scott C. Matulich, and Alan Jubenville – 3 Economic Efficiency and National Forest Planning / Dennis Schweitzer, Frederic Norbury, and Gregory Alward -- The Propriety of Applying Economic Methods to the Allocation of Public Amenity Resources: Paradigms, Property Rights, and Progress / Charles C. Harris and Mary McGown – 5 Valuing Changes in Environmental Assets / Robin Gregory and Donald MacGregor-- Part II Valuation Theory and Method Development: Progress and . Problems -- 6. The Contingent Valuation Method / Richard C. Bishop and Thomas A. Heberlein -- 7. Contingent Valuation and the Prospect of a Satisfactory Benefit-Cost Indicator / John P. Hoehn -- 8. Theoretical Aspects of Managing a Multi-Use Congestible Resource: New Zealand Backcountry Angling / Geoff N. Kerr -- 9. A Note on Population Distributions and the Travel Cost Method / Daniel J. Stynes -- Part III Methods and Applications -- 10. Evaluating National Policy Proposals by Contingent Valuation / Alan Randall and Warren Kriesel -- 11. Contingent Valuation of Wildlife Resources in the Presence of Substitutes and Complements / Karl C. Samples and James R. Hollyer -- 12. Contingent Valuation Question Formats: Dichotomous Choice versus Open-Ended Responses / Rebecca L. Johnson, N. Stewart Bregenzer, and Bo Shelby -- 13. Evaluating the Transferability of Regional Recreation Demand Equations / John Loomis, William Provencher, and William G. Brown -- Author Affiliations.