eBird Economics: How Much Would You Pay to See Birds?
OCTOBER 23, 2017
The economic “impact” of a birding festival can be estimated by looking at expenditures of attendees ( e.g., hotel rooms, meals, souvenirs, transportation costs, etc.). However, if you could auction off each quart to the highest bidder, you’d have an idea about the collective value of those quarts. Thus, there is no conventional market-clearing price for economists to observe, so it is much harder to document society’s collective overall willingness to pay.