| Abstract: | The way the Water Resources Council proposes to measure the beneficial effects of national economic development and recreation is questioned and alternatives suggested. In measuring the former, the assumptions specified by the Council are questioned because they do not hold true in the market place. In addition, the Council's method of simulating a price per recreation day implies that an arbitrary price be selected from a range and multiplied times the number of days at no charge for use of the facilities. It is contended that these procedures would over state the economic benefits which in the real market would be measured by the selected price times the quantity demanded at that price. |
