ABSTRACT:
A unique environmental situation made it possible to estimate the recreational benefits of a soil erosion control project in the northern watershed of Lake Chicot, Arkansas. Using a discount rate of 7–3/8 percent, the estimated present value of benefits for the project over a 50-year period is $67.7 million. Compared with the estimated present value of costs over the same period, $600,000, it is clear, at least from an efficiency standpoint, that the proposed soil erosion control project is overwhelmingly justified.
Footnotes
C. Tim Osborn was a research assistant and Robert N. Shulstad is head of the Department of Agricultural Economics and Rural Sociology, University of Arkansas, Fayetteville, 72701. This research was supported in part by a grant from the Arkansas Water Resources Research Center, Office of Water Resources Technology, U.S. Department of the Interior. Published with the approval of the director of the Arkansas Agricultural Experiment Station.
- Copyright 1983 by the Soil and Water Conservation Society
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