The value of working landscapes to tourists and residents: Ski Country USA

Abstract

Historically, choice experiments and non-market valuation studies have been used to raise awareness of market failures and the uncounted value of public goods. Increasingly, these methods are used to better reflect tradeoffs in public policy and business decisions. In this seminar, we will discuss the results of two studies conducted in Routt County, Colorado, USA that attempt to estimate and then capture the value of ecosystem services provided by ranch open space (or working landscapes) in tourism dependent communities. Contingent valuation and travel cost analysis provide estimates of consumers surplus from private lands conservation.

Economic impact analysis (not discussed here) then traces the distributional effect of private lands conservation policies among relevant stakeholders and industrial sectors. The policy tools at work include a Purchase of Conservation Easements (PACE) program funded through a dedicated county mill levy on private property. We find private lands conservation policies benefit residents and tourists alike and that these investments are robust over time.