The value of a name: Estimating the economic impact of public land designation

Abstract: Public land designations have been shown to have significant impact on their contextual regional economies. This paper reviews the existing literature on how public lands impact the proximate regional economies in which they are situated. Based on this collected wisdom the paper synthesizes past lessons into a comprehensive impact methodology. This methodology distinguishes quality effects in terms of visitors’ willingness to pay for sites of higher quality and quantity effects in terms of additional visitation to such sites to give a more comprehensive methodology for characterizing visitation and economic impact of protected area designation. We focus on National Monuments and National Parks, given that these two types of public lands have the broadest popular exposure and feature the most reliable data. A case study is then presented for a hypothetical protected area in Ferry County, Washington, USA, applying this new methodology to assess the likely economic effects of different types of protected areas. [Copyright &y& Elsevier]