Testing the limits of temporal stability: Willingness to pay values among Grand Canyon whitewater boaters across decades

Water Resources Research
By: , and 

Links

Abstract

We directly compare trip willingness to pay (WTP) values between 1985 and 2015 stated preference surveys of private party Grand Canyon boaters using identically designed valuation methods. The temporal gap of 30 years between these two studies is well beyond that of any tests of WTP temporal stability in the literature. Comparisons were made of mean WTP estimates for four hypothetical Colorado River flow level scenarios. WTP values from the 1985 survey were adjusted to 2015 levels using the consumer price index. Mean WTP precision was estimated through simulation. No statistically significant differences were detected between the adjusted Bishop et al. (1987) and the current study mean WTP estimates. Examination of pooled models of the data from the studies suggest that while the estimated WTP values are stable over time, the underlying valuation functions may not be, particularly when the data and models are corrected to account for differing bid structures and possible panel effects.

Additional publication details

Publication type Article
Publication Subtype Journal Article
Title Testing the limits of temporal stability: Willingness to pay values among Grand Canyon whitewater boaters across decades
Series title Water Resources Research
DOI 10.1002/2017WR020729
Volume 53
Issue 12
Year Published 2017
Language English
Publisher American Geophysical Union
Contributing office(s) Southwest Biological Science Center
Description 13 p.
First page 10108
Last page 10120
Country United States
State Arizona
Other Geospatial Grand Canyon