Long-Term Economic Effects of Stimulus Funded Remediation in Muskegon Lake

We compare the estimated benefits of a stimulus funded remediation over time in Muskegon Lake, MI with the direct costs of the remediation.  Using travel cost surveys, contingent valuation surveys, and hedonic valuation of residential property, we estimate the economic values of the ecosystem services associated with the restoration of wetland habitat in this Great Lakes Area of Concern.  The travel cost survey uses a statistically random sample of over 200 recreational users of Muskegon Lake at multiple recreational access points before and during the remediation.  The contingent valuation survey samples a similarly sized random sample of Muskegon County residents via a mail survey with a stated preference questionnaire as in Whitehead et al (2009).  These two methods are used to generate a demand curve for recreational use of Muskegon Lake and the non-use values of improved wetland habitat. Similarities and differences in the results between the two survey methods are explored and compared to hedonic estimations of the value of previous remediations in the Muskegon Lake area.