BIBLIOGRAPHY 



1. Benson, D., and R.F. Perry. 1965. "An acre of marsh is worth . . . ." 

 The New York State Conservationist 19(6):30-33. 



This was an early attempt to value wetlands. The authors impute a net 

 value for preservation benefits of New York State wetlands of about $350 to $400 

 per acre (capitalized value of annual flows with a 5% discount rate). The result 

 is intuitively appealing, but the estimation procedure does not distinguish 

 between consumer surplus components and net expenditures estimates. 



2. Cain, S.A. 1966. Estuaries: a neglected resource complex. Commercial 

 Fisheries Review 28(10) :27-34. 



The author is a former Assistant Secretary of the U.S. Department of the 

 Interior. He gives a useful description and qualitative assessment of the 

 socially beneficial functions performed by estuarine wetlands, including habitat 

 provision for valuable shellfish and finfish species. Cain's description of the 

 divergence between legislative intent and bureaucratic action is as apt and 

 relevant today as it was 20 years ago. 



3. Carley, D.H., and CM. Frisbie. 1968. The blue crab, oyster, and finfish 

 fisheries of Georgia--an economic evaluation. Georgia Game and Fish 

 Commission. Contributions series No. 7. 13 pp. [Available from Library, 

 Georgia Dept. of Natural Resources, Coastal Resources Division, 1200 Glynn 

 avenue, Brunswick, Georgia 31523.] 



This is a concise, informative paper on the commercial finfish and 

 shellfish harvests of the tidal marshes of Georgia. Carley and Frisbie chart 

 the price of oysters (for 1957-1968), blue crab, and certain commercially 

 valuable finfish species. Some estimates of the jobs provided by these fisheries 

 are provided, but the emphasis is on prices and total catch (value and quantity), 

 not multiplier effects. 



4. Goldstein, J.H. 1971. Competition for wetlands in the midwest: an 

 economic analysis. Johns Hopkins University Press, Baltimore. 105 pp. 



This report is one of the seminal studies on wetlands. It deals with the 

 economics of drainage of Minnesota prairie potholes; the estimation of the social 

 marginal physical product of prairie potholes in the production of migratory 

 waterfowl; the estimation of multi-site, multi-origin travel cost method 

 benefits-and-demand function(s) for the hunting of migratory waterfowl in 

 Minnesota; the role of government subsidization of farmland drainage in prairie 

 pothole conversions; the level of expenditures for leasing rights for hunting 

 purposes on Minnesota farmlands; and the optimal social allocation (farming or 



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