VISITOR PREFERENCES AND VALUES FOR WATER-BASED RECREATION: A CASE STUDY OF THE OCALA NATIONAL FOREST

We used the open-ended contingent valuation method to elicit willingnes to pay (WTP) for day visitors and extended visitors on the Ocala National Forest (ONF), Florida. A Tobit model specification was applied to account for the issues involved with censored WTP bids. The results reveal that visitors would pay more for improved recreational facilities at the ONF. In particular, our estimates show that visitors would pay $1 million for basic facilities, $1.9 million for moderate improvements, and $2.5 million for more improvements.