Net economic values for salmon and steelhead from the Columbia River system

The objective of this report is to provide an improved procedure, and where appropriate, more up-to-date values, for application to salmon and steelhead of the Columbia River by analysts who may become involved in benefit cost analysis, impact assessment, or similar processes. Consequently, it takes a "manual" or "handbook" approach, and builds upon "Partial Net Economic Values for Salmon and Steelhead for the Columbia River System"(Tuttle, et al. 1975). The present document is based upon appropriate economic theory, has considered a number of empirical studies of relevance for Columbia fisheries, and has also benefitted from the recent review of economic procedures by the U.S. Water Resources Council (hereafter WRC). It does not contain extensive economic elaboration, however, but is rather directed at an audience that will be largely composed of non-economists.