We present the results of a new, tournament-style design of a contingent choice survey about management options at North Cascades National Park (NCNP). In our tournament-style survey, each respondent explicitly ranks several sets of scenarios and, in addition, several other rankings are implicit. Inclusion of the implicit rankings leads to some differences in coefficient estimates but almost no...

Shogren, J.F. and Crocker, T.D.. 1990. Adaptation and the option value of uncertain environmental resources. Ecol. Econ., 2 : 301-310. Just as ecology has benefited from the economic theory of optimizstion, economics can benefit from the ecological theory of adaptation. We examine the impact of short-term, non-genetic adaptive self-protection on the values individuals attach to uncertain prospe...

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(31 Aug., p. 819) argue that, because current pricing practices do not internalize environmental costs, some mechanism other than the market is needed to protect environmental values. They propose a system of environmental credits-natural resource units (NRU's)-to be allocated to individuals and industrial organizations. Although their system is ingenious, I offer the following objections. 1) T...