Non-market Value of Winter Outdoor Recreation in the Swiss Alps: The Case of Val Bedretto

© 2017 Springer Science+Business Media B.V. A longstanding interest from environmental economists on winter outdoor recreation has overlooked activities practiced outside the boundaries of winter resorts—e.g. ski mountaineering. This paper implements the Travel Cost Method to estimate consumer surplus per season derived from ski mountaineering and snowshoeing in Val Bedretto—a valley located in the Swiss Alps. In addition, the Contingent Behavior Method is used to estimate the changes in welfare associated with the construction of an alpine center that would provide services aiming to reduce the risk of injury and death associated with winter outdoor recreation. The data is analyzed by means of latent class panel on-site count models. The latent class approach allows us to identify subpopulations that benefit from the alpine center. The results show that 33% of visitors would experience an increase in their consumer surplus per season equivalent to €31 per visitor

Beyond Antagonism: Legal Protection of Foreign Investment in the Natural Resources Sector

The essay examines the legal protection of foreign investment in the natural resources sector, keeping in mind the pivotal role the sector may play in the economic development of the host State as well as the need to strike a balance between the private and public interests at stake. After elaborating on the notions of permanent sovereignty over natural resources and sustainable development, it discusses the main questions related to the exercise of regulatory powers by the host State, the protection of social values, and the promotion of good governance. It finally attempts to identify the sources of tension and possibly conflict with a view of reconciling the competing rights and interests of stakeholders