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The Capitalization of Wildlife Recreation Income into Farmland Values

Published online by Cambridge University Press:  28 April 2015

Jason Henderson  and
Sean Moore
Jason Henderson
Affiliation:
Federal Reserve Bank of Kansas City, Omaha Branch, Omaha, NE
Sean Moore
Affiliation:
Federal Reserve Bank of Kansas City, Kansas City, MO
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Abstract

Wildlife recreation—hunting, fishing, and wildlife watching—appears to be an increasingly important pastime for many Americans. From 1991 to 2001, U.S. wildlife recreation expenditures surged from $77 billion to $108 billion in 2001 dollars. Land lease and ownership expenditures by wildlife recreation participants are also rising and appear to be capitalized into farmland values. This paper analyzes the impact of hunting lease rates on farmland values in Texas. The results indicate that counties with higher wildlife recreation income streams have higher land values.

Keywords

farmland valueswildlife recreationQ15
Type
Articles
Information
Journal of Agricultural and Applied Economics , Volume 38 , Issue 3 , December 2006 , pp. 597 - 610
Copyright
Copyright © Southern Agricultural Economics Association 2006

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