CASE STUDY: Most water quality research focuses on a particular water body or region for the context of its analysis. Such is the case for a University of Maryland study supported by the EPA that anal

CASE STUDY: Most water quality research focuses on a particular water body or region for the context of its analysis. Such is the case for a University of Maryland study supported by the EPA that analyzed the coastal region from New York to south Florida (excluding the Florida Keys). The location was motivated by the economic activity being studied: marine sportfishing. Eighty percent of all East Coast marine sportfishing takes place in the area targeted by the study. Furthermore, the region is one where there are active pollution control initiatives and where management plans for recreational fisheries are in place.

The objective of this university research was to develop a database and a procedure that can be used to estimate the economic value of two related factors: access to marine sportfishing and changes in the catch rate of various species, where the catch rate is the average number of fish caught per fishing trip at a given site. The link between these two factors and economic benefits is a logical one. Water quality policy reform can improve the catch rate, which in turn will affect fishermen’s decisions about where to fish, what species they fish for, whether they fish from the shore or from a boat (called the fishing mode), and even how often they go fishing. By measuring these changes in fishermen’s behavior, researchers can make the link to a monetized benefit measure of improved fishing conditions that can be achieved through tougher pollution controls.

To determine catch rates, the analysis used survey data collected by the National Marine Fisheries Service. Three categories of catch rates are defined by type of fish: big game fish (e.g., marlin and tuna), small game fish (e.g., bluefish and mackerel), and bottom fish (e.g., snapper and grouper). Three different preliminary benefit estimates were reported by the EPA:

·                     A 20 percent increase in the catch rate of small game fish for both fishing modes at all sites would increase the average benefit of each fishing trip by $0.33.

·                     A 20 percent increase in the catch rate of bottom fish by boat would increase the average benefit per trip by $1.27.

·                     A 20 percent increase in the catch rate of large game fish would yield an increase in benefits of $1.56 per trip.

Sources: U.S. EPA, Office of Water (April 1992), p. 164, citing preliminary results of McConnell and Strand (September 1, 1994).

a. Offer an economically logical argument as to why the benefits per trip are progressively higher with the categories of fish shown? (10 points)

b. Suppose that there are 10 million sport fishermen along the East coast for each type of fish identified in the study, and that each fisherman makes 3 sportfishing trips per year. If an efficient number of fishing trips is achieved in each category, what would be the total costs for each fish category, assuming the 20 percent increase in the catch rate?  (30 points)







Calculate Your Essay Price
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

Order your essay today and save 10% with the coupon code: best10