Coastal Economics

A Foolish Man
This document explains how the government’s incentives created in response to coastal hazards must be eliminated in favor of a more concerted effort among the federal, state, and local levels. Contains a discussion of the extent to which government should be involved, including such concepts as fiat givings and current floodplain management policy.

The Dynamics of Shoreline Management: An Approach Using Renewable Resource Economics
Emily Woglom, May 2003
Data and a discussion of the possibilities of beach nourishment projects and other management decisions, using the principles of renewable resource economics.

Coastal Hazards and Economic Externality: Implications for Beach Management Policies in the American Southeast 
A Heinz Center Discussion Paper
Warren Kriesel, Robert Friedman, May 2002
A comparison and contrast of the property value implications of beach nourishment versus shoreline stabilization, with a hedonic price analysis.

Benefit-Cost Analysis and the Discount Rate for the Corps of Engineers’ Water Resource Projects: Theory and Practice
Kyna Powers – Analyst: Resources, Science, and Industry Division , June 23, 2003
A thorough description of the benefit-cost analysis process and its controversial and misleading aspects. Also an examination of the Army Corps of Engineers’ analyses and their potential for having been manipulated to support particularly large and expensive projects.

A Value Capture Property Tax for Financing Beach Nourishment Projects: An Application to Delaware’s Ocean Beaches
George R. Parsons, Joelle Noailly, 2004
This report uses a hedonic price function, creates a property tax schedule and supports a proposal with the claim that those who have invested must also bear the costs of maintenance and improvement.

Measuring the Cost of Beach Retreat
George R. Parsons, Michael Powell, 2011
A measure of the value of Delaware’s ocean beaches over the next 50 years, taking into account many different factors such as erosion and commercial structures, and how that compares to the cost of nourishment.

Replenishment v Retreat: The Cost of Maintaining Delaware’s Beaches
Heather Daniel, 2001
Highlights the complex problems facing coastal Delaware and Beaches 2000, a comprehensive management plan that has guided the development of Delaware’s beaches (mostly in the form of nourishment activities).

Economic Evaluation of Beach Erosion Management Alternatives
Craig E. Landry, Andrew G. Keeler, Warren Kriesel, 2003
A look at the relative economic efficiency and desirability of 3 distinct beach erosion management policies (beach nourishment with and without shoreline armoring, and shoreline retreat) using the case study of Tybee Island in Georgia and a hedonic price regression analysis, as well as a stated preference survey.

The Economic Value of Beaches: 2002 Update
James R. Houston, US Army Engineer Research and Development Center
A report on the significance of the nation’s beaches within the travel and tourism industry.

The Economic Value of Beaches: 2008 Update
James R. Houston, US Army Engineer Research and Development Center
Similar to the 2002 update with the additional claim that tourism is a hard industry to offshore.

Impacts of Coastal Hazards on Tourism and Property Prices: Research Summary
Warren Kriesel
Flooding and erosion hazards, and the actions taken against them, are primary determinants of tourism and property prices in coastal areas.

North Carolina: Measuring the Impact of Sea-Level Rise on NC Coastal Real Estate
Okmyung Bin, 2008
The northern part of the state is very much vulnerable to sea-level rise and can expect losses in the hundreds of millions per year due to coastal erosion.

Some Consumer Surplus Estimates for NC Beaches
Okmyung Bin, Craig E. Landry, Christopher L. Ellis, Hans Vogelsong
Using the single-site travel cost method and two pooled count data models, they estimate the consumer surplus visitors receive at seven NC beaches.

Valuing Beach Access and Width with Revealed and Stated Preference
John C. Whitehead, Christopher F. Dumas, Jim Herstine, Jeffrey Hill, Bob Buerger, November 10, 2006
An article explaining how hypothetical bias can create increased estimates of the economic benefits of recreation and recreation quality improvement, which in turn affects which beach protection programs are carried out.

Valuing Spatially Integrated Amenities and Risks in Coastal Housing Markets
Okmyung Bin, Tom Crawford, Jamie Brown Kruse, Craig Landry, January 2006
A deconstruction of the often closely tied factors of coastal amenity and risk through a 3-D measure of view, and then the use of a spatial hedonic model to show willingness to pay for these two factors.

Valuing the Recreation Impacts of Beach Retreat 
Illustrations and explanations of various economic models looking at peoples’ willingness to pay for coastal recreation.

Appendix C: Authorizing Legislation Pertinent to the Shoreline Protection and Beach Erosion Control Program 
A list of various relevant federal erosion response legislation.Title 33 – Navigation and Navigable Waters, Chapter 9 – Protection of Navigable Waters and of Harbor and River Improvements Generally Subchapter I – In General 
Policy regarding federal aid used for shore protection.

Eroding Beaches Decrease Tax Value: Reassessments cost Brunswick, New Hanover,StarNewsOnline.com Sep 9, 2007 
Reevaluations in assessed property value in Brunswick and New Hanover counties in NC made people anxious and concerned about how to deal with potential future loss of revenue and property.Givings: The Flip Side of Takings
David Morris, AlterNet 
Presents the concept that coastal property owners should compensate the public whenever public actions increase property values.

Homes in Beach Erosion Zone to See Lowered Property Values
Florida Times – Union, Christina Abel, January 5, 2008 
Speculation that erosion is causing devaluation of recent property assessments.

North Carolina’s Seawall Ban, Environmental Economics, August 23, 2007 
A dialogue on differing views toward beach management and the wealthy.

Preserving Beaches
James R. Rinehart and Jeffrey J. Pompe, Fall 1998 
Beach stabilization projects financed by private interests should have greater benefits in comparison to costs.

Economists Doubt Claim That Reach 8 Properties Would Lose Value If Beach Not Rebuilt, September 30, 2008
One economist poses challenges to the claim that beach nourishment needs to happen in order to maintain beachfront property values.

Shore Protection 
A brief abstract put out by the Corps of Engineers that expounds on the necessity for, and their valiant efforts toward shore protection.