ECONOMIC VALUE /CONSUMER SURPLUS
David B. Harding, Ph.D.
Chief Economist
Florida Fish and Wildlife Conservation Commission
Tallahassee, Florida
Telephone: 850 – 487-3794
E-Mail: david.harding@fwc.state.fl.us
The Florida Fish and Wildlife Conservation Commission have completed two major
economic studies concerning wildlife related recreation. In 2001 the Commission
completed the economic study on boat ramps and piers entitled Assessing the Economic
Impact and Value of Florida’s Public Piers and Boat Ramps and in 2003 the economic
study of selected wildlife management areas entitled The Economics of Selected Florida
Wildlife Management Areas. The summary report for these economic studies may be
viewed on the Commissions web site or by contacting the Commissions Chief Economist for
individual copies. Information concerning economic value from these studies is provided
here to aid researchers and the public in gaining a better understanding of economic value
estimates derived from these research efforts and to underscore the importance of
conservation. The U.S. Fish and Wildlife Service provide economic values for wildlife
watching and bass fishing.
ECONOMIC VALUE/CONSUMER SURPLUS
A less apparent application of economic research is the concept of economic value or
consumer surplus. This has not so much to do with the actual dollars spent in an area, but
with the value derived by users of various resources. Expenditures and economic values
are two widely used but distinctly different measures of economic value. The dollars
(expenditures) spent on an activity, or in a particular area, do not represent the value of
those choices to the consumer – in fact they tend to underestimate them.
Economic value is measured as participants’ willingness to pay for wildlife related
recreation over and above what they actually spend to participate. Economic value is an
economic measure of an individual’s satisfaction after all costs of participation have been
paid. All economic