Organisations managing recreational sites commonly need to understand the factors influencing visitation choices made by the public and the impact they have on the value of their sites. This need is particularly pertinent with an increasing societal reliance on cost benefit analysis for project appraisal. Whilst on-site visitor surveys can provide information on preferences and values, the potential to transfer findings to predict visitor numbers and values at unsurveyed sites provides an attractive policy option. Indeed, the demand for these benefit transfer methodologies is increasing as more Government emphasis is placed on evaluating the economic potential of rural outdoor recreation. This research concerns the development of benefit transfer models to estimate visitor numbers from outset zones to British Waterways and Forestry Commission sites. Employing a GIS, the research uses multilevel statistical modelling techniques to quantify the impacts of the proximity to competing recreation sites, resource accessibility and quality, and the characteristics of visiting populations. The models are constructed using visitor survey data and applied to unsurveyed sites, testing their use in benefit transfer. Methods are also developed that allow their output to be used to estimate the non-market value of the recreational opportunities afforded by the resources. The findings show some robust relationships determined visit patterns, with travel times from outset zones being a consistent predictor of visitor numbers. A range of other indicators were also significant including socio-demographic measures, site characteristics and substitute availability values. Nevertheless, when individual sites were compared, considerable variability was detected in the strength and direction of these relationships. The methodology developed explicitly addresses the frequently ignored spatial dimension of benefit transfer. Here the GIS provides the functionality to produce a range of measures of the underlying determinants of recreational visits. Although further refinements are needed, the future for spatial benefit transfer models appears promising.

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AN ECONOMIC EVALUATION OF COASTAL \VETLANDS IN KOREA BY IIEE-DONG PYO The thesis undertakes a detailed economic analysis of the coastal wetlands of Korea and applies the double-bounded dichotomous choice model and spike model of the contingent valuation method to systematically evaluate their conservation value. Further analysis including an extension of the original spike model using only singlcbounded data (Kristrom, I ()(n) to modelling double-bounded data for more statistical efficiency to deal with /.ero observations was made. As a result, the estimated willingness-to-pay for conserving the coastal wetlands under the study is S3.9 per month per household, and the annual aggregated conservation value for the entire nation is about 175 million dollars in a conservative scenario. The study then applies a benefit-cost analysis (8C';\) to coastal wetlands around the Youngsan River, an area of dispute between development and preservation in Korea, with a synthesised estimation of the ecosystcm functional values for coastal wetlands and rice paddies developed by reclamation. The results show wetland development would be preferred to its preservation in an optimistic seenano and conventional BC A, yielding NPV of $49million at the discount rate of 8(Yo, IRR of 8.28%, and B/C ratio of 1.03. By contrast, a normal scenario rejects economic feasibility for the development project at the discount rate of 8°/c), yielding a NPV of -$271 million, IRR of 6.5% and B/C ratio of 0.84. With an extended Be A including conservation values for I-year, 5-year and 1 O-year payment, the estimates of IRR are 7.42%, 5.42%, and 4.06%, respectively under the optimistic scenario. Meanwhile, under the nOnllal Scenario the estimates of IRR arc 5.85%, 4.25%, and 3.09%, respectively. In addition, this study includes a discussion of a comprehensiYe review of conjoint analysis and the integrated environmental management of coastal wetlands developing sustainability indicators for coastal lisheries using bio-economic models in Appendix.

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The value of statistical life is an estimate of the monetary benefits of preventing an anonymous death. Society's willingness to pay to eliminate private health risks determines agencies' value-of-statistical-life estimates. Most estimates ignore society's willingness to pay to eliminate others' health risks. There are two possible reasons. First, altruism does not exist: Peter is not willing to pay to save Paul's life. The second possible reason is a bit more complicated. Certain economists argue that increasing benefit estimates to account for altruism involves double-counting. The purpose of this thesis is to evaluate these possibilities. Accounting for altruism, it turns out, is not double-counting if altruism is paternalistic. Furthermore, I empirically demonstrate that people are willing to pay to reduce others' health risks. Thus, the two justifications for ignoring altruism are, seemingly, unfounded, which indicates that analysts should increase the value of statistical life to account for altruism.

This study reviews the literature and updates qualitative and quantitative impacts based on new research and applies a partial greenhouse gas (GHG) emissions cost benefit analysis to the Three Gorges Dam Project (TGDP) in China. The results of CBA suggested a 22.305 billion dollars net present value (using Nordhaus’s 2007 optimal carbon price trajectory with assumed average social discount rate (SDR) of 4% assumptions) and a 440.324 billion dollars net present value (based on Nordhaus’s Model using Stern’s assumption with 1% SDR). This sensitivity analysis indicates that social discount rates highly affect the final results. This study extends the GHG emissions impact component by updating carbon prices and calculation methods, thereby updating the GHG component of Morimoto and Hope’s 2004 study. Although the CBA is limited to the GHG component, a review of recent literature and preliminary impact analysis provides the groundwork for a more comprehensive analysis for future study.

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