VALUING BOTANIC COLLECTIONS: A COMBINED TRAVEL-COST AND CONTINGENT VALUATION SURVEY IN AUSTRALIA

The economic value of biological collections in three major botanic gardens in Australia was estimated using the Travel-Cost (TC) and Contingent Valuation (CV) methods. The study used truncated count data models to control for the non-negative integer and truncation properties of the number of visits to botanic gardens in Canberra, Melbourne and Sydney. We estimate consumer surplus values of approximately $34 per trip to each botanic garden, resulting in the total social welfare estimate of approximately$96.9 million in 2010 Australian dollars. This result is relatively high compared to similar studies conducted in other countries. Willingness to pay (WTP) for entry fees and or higher parking charges for access to botanic gardens were also investigated. Results indicate a positive mean WTP of approximately $3-$4 per trip per person. These findings will be useful for resource management decisions in the botanic gardens and other biological collections in Australia.Economic value, botanic gardens, biological collections, willingness to pay, travel-cost method, contingent valuation method., Resource /Energy Economics and Policy,

Technical efficiency in the Victorian Abalone Fishery

The Abalone Fishery in one of Victoria’s most valuable commercial fisheries and most of the catch is exported to international markets in Asia (Japan, Hong Kong, Singapore, China). Target species consist of blacklip abalone and greenly abalone (<1% of total catch). The fishery is quota managed, and the total allowable commercial catch (TACC) for the 2017/18 was about 694.5 tonnes, with a market value of $22 million. A number of declines in abalone abundance have occurred in recent years, due to the impacts of Abalone Viral Ganglioneuritis (AVG), fishing pressures and expanding urchin barrens. However, there has been little economic analysis done of the fishery. The aim of this study is to examine technical efficiency, capacity utilisation and impacts of the viral disease outbreaks int he Victorian Abalone fishery in Australia

Estimating the technical efficiency and impacts of a virus disease outbreak in the Abalone Fishery in Victoria, Australia

The Abalone Fishery is one of Victoria's most valuable commercial fisheries and almost all of the catch is exported to international markets, predominately in Asia. An outbreak of a virus called the Abalone Viral Ganglioneuritis (AVG) decimated one third of Australia’s abalone, starting in 2005. However, there has been little economic analysis of the commercial abalone fishery in Victoria. This study examines technical efficiency in the Victorian Abalone Fishery with an input-oriented data envelopment analysis (DEA) using panel data for the period from 1978/79 to 2009/2010. The influence of factors affecting technical efficiency is analysed using a Tobit regression model of DEA-derived scores. Such factors include inputs (such as number of fishers, time spent fishing), dummy variables for fishing zones, disease outbreak and a time trend. The results show an increase in technical efficiency, with a decline in capacity utilisation across the three fishing zones. We discuss these results and their management implications. Key words: Technical efficiency, data envelopment analysis, fisheries, Abalon

Valuing Marine Parks in a Small Island Developing State: A Travel Cost Analysis in the Seychelles

A major problem facing the Seychelles is the decline in the quality and the value of marine protected areas (MPAs). Economic valuation can help guide policy makers to understand the value of marine resources and the cost of neglecting MPAs by expressing the value of their goods and services in monetary terms. This paper presents an analysis of the economic value of a group of marine parks in Seychelles. The Travel-Cost Method (TCM) is used to establish willingness to pay (WTP) of international tourists for trips to marine parks in Seychelles from their observed behaviour. The average per trip consumer surplus is approximately €128 for single-site visitors and €65 for multiple-site visitors. The total social welfare value attributable to the recreational opportunity in marine parks is approximately €3.7 million annually. These results provide policy makers with a strong justification for government investment needed to maintain marine sites in Seychelles

Valuing access to biological collections with contingent valuation and cost-benefit analysis

Biological collections may be underutilised because of transaction costs incurred in their use. One way to reduce transaction costs and foster greater utilisation of biological collections that could benefit society is through the creation of a virtual central database of biological collections, available online. The objective of this paper is to estimate the benefits of this policy change using a dichotomous choice contingent valuation survey of the primary users of biological collections. Marginal willingness to pay (WTP) for access to a new central database linking collections around Australia was investigated through an annual user fee payment vehicle. The mean WTP of direct users of the proposed program was Australian dollar (A$) 149 per annum (95confidence interval of$102 $348). We conducted a cost benefit analysis of the proposal, showing that the aggregate benefits are likely to outweigh the total costs of setting up and maintaining the database in the longer term. These findings are useful for resource allocation decisions regarding biological collections

Valuing Australian botanic collections: A combined travel-cost and contingent valuation study

Economic values of biological collections in three Australian botanic gardens in Canberra, Melbourne and Sydney were estimated using the travel-cost method (TCM) and the contingent valuation method (CVM). The TCM component of the study produced average per-trip consumer surplus (CS) values of $39 and$18 for single- and multiple-site visitors, respectively, for each botanic garden, resulting in an estimate of approximately $194 million for the total social welfare generated by trips to the three sites. Marginal willingness to pay (WTP) for access to botanic gardens was also investigated through payment vehicles of entry fees or higher parking charges using the CVM component. The analysis revealed a positive mean WTP of between$3 and $5 per trip per person. The difference between the CVM and TCM results reflect the different underlying concepts of value under investigation: average CS per visit for the TCM and the utility arising from a marginal visit for the CVM. Marginal changes in CS from the TCM were derived. The confidence intervals from the TCM marginal values overlap the WTP estimates from the CVM. These findings will be useful for resource management decisions in the botanic gardens collection in Australia

Valuing Australian botanic collections: a combined travel-cost and contingent valuation study

Economic values of biological collections in three Australian botanic gardens in Canberra, Melbourne and Sydney were estimated using the travel-cost method (TCM) and the contingent valuation method (CVM). The TCM component of the study produced average per-trip consumer surplus (CS) values of $39 and$18 for single- and multiplesite visitors, respectively, for each botanic garden, resulting in an estimate of approximately $194 million for the total social welfare generated by trips to the three sites. Marginal willingness to pay (WTP) for access to botanic gardens was also investigated through payment vehicles of entry fees or higher parking charges using the CVM component. The analysis revealed a positive mean WTP of between$3 and $5 per trip per person. The difference between the CVM and TCM results reflect the different underlying concepts of value under investigation: average CS per visit for the TCM and the utility arising from a marginal visit for the CVM. Marginal changes in CS from the TCM were derived. The confidence intervals from the TCM marginal values overlap the WTP estimates from the CVM. These findings will be useful for resource management decisions in the botanic gardens collection in Australia

Valuing marine parks in Seychelles.pdf

A major problem facing the Seychelles is the decline in the quality and the value of marine protected areas (MPAs). Economic valuation can help guide policy makers to understand the value of marine resources and the cost of neglecting MPAs by expressing the value of their goods and services in monetary terms. This paper presents an analysis of the economic value of a group of marine parks in Seychelles. The Travel-Cost Method (TCM) is used to establish willingness to pay (WTP) of international tourists for trips to marine parks in Seychelles from their observed behaviour. The average per trip consumer surplus is approximately €128 for single-site visitors and €65 for multiple-site visitors. The total social welfare value attributable to the recreational opportunity in marine parks is approximately €3.7 million annually. These results provide policy makers with a strong justification for government investment needed to maintain marine sites in Seychelles