The Value of Fish 'n' Trips to Recreational Anglers in Southern Western Australia.
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Recreational fishing is one of the most popular forms of outdoor recreation in Australia,
involving approximately a third of the population. As such, the recreational sector is a
significant user of fish stocks and coastal areas. Allocating resources fairly and
efficiently between recreational anglers, commercial fishermen, and other users has
become a major issue in fisheries management. Because there is no market to signal the
values of recreational fishing, there is a tendency for fish and access to beaches for
recreation to be under-supplied. Managers are aware that recreational fishing provides
substantial social and economic benefits, but do not have a good grasp of their
magnitude or sensitivity to changing conditions. This paper presents the results of an
empirical study which estimates the value of fishing trips made by a sample of shore
anglers, together with their marginal values for several types of fish. Welfare estimates
were obtained using a random utility model which infers values from anglers' observed
choices of site and target species. The average consumer surplus from a day trip was
estimated to range between $33 to $39, while improving catch rate by 50% increased
the value of a trip by up to $4 depending upon the type of fish affected by the change.
Based on the average number of fish caught per trip, this equates to a marginal value of
$1.40 per fish. This study demonstrates that the random utility model is a promising
new technique for deriving non-market values and assessing policies that allocate
natural resources between user groups.