The Application
A contingent valuation survey was developed to determine how much visitors to the falls would be willing to pay for increased overflow levels. The survey instrument included pictures of the falls at four different flow levels and a series of valuation questions. It was mailed to a sample of previous visitors to the site. The key survey questions asked how much individuals would pay to visit the falls with each of the four flow levels depicted in the photos, and how many times they would visit each year at the four different flow levels.