A Money-Flows Approach to Investment In game Management

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Crutchfield,J. A.
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The economic evaluation of various forms of outdoor recreation has been a subject of intense interest to American and Canadian economists in recent years. The work of Clawson, Khetsch, Davis, Scott, Pearse, Castle, Brown and others is testimony to that interest. (For excellent reviews of the literature, see Knetsch 1963; Scott 1965; and Stevens 1966). Regrettably, it cannot be said III all honesty that the usefulness of the resulting output is noteworthy. Perhaps the main accomplishment to date has been a significant reduction in the number of grossly incorrect estimates of ,the economic contribution of particular types of fish, parks and other sources of recreation and aesthetic enjoyment. Much less has been accomplished in establishing useful operational procedures through which analytically correct estimates can be made. It is not wide of the mark to say that the economic evaluation of outdoor recreation today has achieved the same level of sophistication as that of the economic analysis of river basins before the advent in 1958 of the "green book",
East African Agricultural And Forestry Journal, XXXIII, p. 78-83