Alternative Management Strategies for Virginia's Coastal Wetlands. Economic Values Attributable to Virginia's Coastal Wetlands as Inputs in Oyster Production

摘要

Recent Federal and State legislation requires the permitting agencies to consider the benefits of the natural services of tidal wetlands (e.g., feeding habitat for fish and wildfowl) when deliberating whether or not to allow the alteration of specific coastal wetlands. This requirement to weigh the benefits associated with non-market services of wetlands has stimulated interest in obtaining monetary evaluations. This research provides estimates of the economic values from one natural wetlands service: Chespeake Bay Oyster (Crassostrea virginica) production. A Cobb-Douglas production function for oyster production in 17 Virginia counties was estimated using ordinary least squares. This function was used to calculate total and marginal value products accruing to natural wetlands providing inputs to oyster production.