On the Marginal Value of a Fish: Some Evidence from a Steelhead Fishery

Policymakers and other interested parties frequently request information on the recreational value of a fish. Although fishing valuation studies date back at least 25 years, most studies focus on the average value of a fish. If the purpose of such estimates is to measure the value of incremental changes in fish numbers, then use of average estimates may lead to an incorrect policy decisions. The objective of this analysis is to estimate the marginal value of a steelhead trout in a recreational fishery on the John Day River of Oregon. The study uses contingent valuation procedures to elicit willingness to pay estimates for improvements in fish numbers and success rates. For the anglers in this survey, the value of an additional steelhead is $6.65 under current catch conditions. This value is much lower than values currently used in public debates in the Pacific Northwest, but similar to some marginal values reported in the recent literature. Implications of these values relative to average values are discussed.