Recreational anglers' willingness to pay for increased catch rates of Pacific threadfin (Polydactylus sexfilis) in Hawaii

The social value of a potential stock enhancement program for Pacific threadfin in Hawaii is evaluated in terms of demand for fishing quality improvements by recreational anglers on the windward coast of Oahu, Hawaii. Contingent valuation is used to estimate willingness to pay for increased catch rate resulting from a subsidized stock enhancement program. The empirical results of the study indicate that the current catch level, employment status, occupation, education, gross income, and extra catch are important determinants of net willingness to pay for Pacific threadfin abundance. A tobit model is constructed to measure the net willingness to pay for increased catch rates. The estimated net willingness to pay for the current average catch rate of 3.8 fish per trip is US$ 7.95. Estimates of net willingness to pay for the current average catch rate plus hypothetical increments of 1, 3, 9, and 11 fish per trip are US$ 10.05, 13.67, 19.95, and 20.52, respectively. (C) 2004 Elsevier B.V. All rights reserved.