NONMARKET VALUE OF WESTERN VALLEY RANCHLAND USING CONTINGENT VALUATION

With the irreversible loss of agricultural land to development uses in certain areas, there is increased concern that land be preserved for posterity's sake. We estimate the nonmarket value of a ranchland prote ction program in the Yampa River Valley in Routt County, Colorado, inc luding the Steamboat Springs resort. The case study builds on previous land preservation studies by adding several preference indicators. We find that local residents' willingness to pay is substantial, but ins ufficient, to justify protecting the existing quantity of valley ranch land in the study area.