
Surfonomics: Viewshed v. Break
In 2002, a surfer named Chad Nelsen enlisted an economist at Duke University to help put a price tag on a popular surfing spot on Puerto Rico’s northwest coast. Nelsen’s idea was novel: to prove that the waves breaking on the beach constituted a multimillion-dollar asset and persuade the local town to take pains to preserve it. source: Washington Post Building on advances in natural resource economics, the new field...
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