Modeling the effect of fishery attributes on participation rates and angler welfare: the Kenai Peninsula marine sport fishery

Changes in sportfishing trip attributes such as cost, harvest regulations, environmental quality, and resource abundance, affect both the expected net benefits associated with a fishing trip and participation decisions. The ability to estimate both of these is important for various types of policy analysis. This study uses stated preference questions of anglers who sport fished in the marine waters off the Kenai Peninsula. Alaska to estimate a nonlinear random effects probit model that expresses both angler net benefits and participation rates as functions of trip attributes. The use of stated preference data along with a nonlinear utility specification allows for the simulation of a wide range of policy scenarios. The study design permits the identification of substitution and complementary effects across fishing trip attributes, as well as nonlinear marginal utility.