• Examination of US college textbook prices

      Molina, Allen Christopher; Baek, Jungho; Wright, Christopher; Little, Joseph (2015-08)
      College textbook prices are investigated in detail using an Auto-Regressive Distributed Lag (ARDL) approach to cointegration. This technique allows for the examination of short and Long run affects to prices brought upon by changes in personal income, college enrollment, input Prices and changes in corporate profit. The 2008 economic downturn and the introduction of the 2008 Higher Education Opportunity Act have also been included in this analysis as factors Affecting price. The results of my analysis show that supply factors are stronger determinants in The long run changes of textbook prices, while in the short run, both supply and demand factors Are determinants of textbook prices. Both 2008 market shocks also were found to have negative Effects on prices in the college textbook market.
    • Three essays on community supported agriculture

      Thayer, Anastasia; Little, Joseph; Seefeldt, Steven; Goering, Gregory; Baek, Jungho (2015-08)
      The number of community supported agriculture (CSA) farms has grown considerably since the model was first introduced in the United States nearly 30 years ago. However, current academic literature lacks specific studies that provide an in-depth analysis of a market for CSA shares over time. The purpose of this study was to provide a comprehensive overview of the supply and demand for CSA shares in the Tanana Valley through extensive data gathering of local production and farm statistics. The research provides a narrative of how the market has developed and changed over time. Hedonic models provide real estimates of implicit prices paid for specific attributes of CSA shares in the market. A choice experiment and intercept surveys determined consumer preferences for CSA shares. Overall, the results of this research indicate that CSA farms are becoming more prevalent in the Tanana Valley and offer a growing number of consumers a diverse basket of vegetables over the short Alaskan growing season. Based on statistics gathered from the demand analysis, farmers in the region could increase revenues and capture a larger share of the market for produce in the Tanana Valley through increased marketing and more flexible share options.
    • How oil prices impact the labor market: empirical evidence from Alaska

      Bocklet, Johanna; Baek, Jungho; Wright, Christopher; Little, Joseph (2016-05)
      The present paper uses a linear autoregressive distributed lag (ARDL) approach in order to test for symmetric effects of oil price changes on employment in the oil-industry and employment in non-oil industries in Alaska. The ARDL model allows for the examination of short and long-run effects of employment by changes in crude oil prices, interest rate and personal income. Using quarterly data over the period 1987-2015, the long run results show strong positive correlation of crude oil prices and oil-industry employment and negative correlation between crude oil prices and employment in the non-oil industry in Alaska, supporting the sectoral shift hypothesis. Furthermore, interest rates significantly impact employment in both economic sectors, in the short and in the long run. While a higher interest rate leads to job creation in the oil-industry, it causes job destruction in the non-oil industry.
    • Addressing student performance in the classroom: a case study of the University of Alaska Fairbanks Supplemental Instruction Program

      Englert, Alyssa; Little, Joseph; Wright, Christopher; Baek, Jungho (2016-05)
      The Supplemental Instruction (SI) program, developed and headquartered at the University of Missouri Kansas City, is a peer-to-peer mentorship program that seeks to aid post-secondary education students in passing historically difficult courses. The University of Alaska Fairbanks Supplemental Instruction program was established in 2003, and to date no external study has been completed as to its effectiveness despite the university’s unique student population. To empirically evaluate the program’s main user groups and impact on final course grade, three models were created: a probit model identified the demographic factors that led to a student self-selecting to participate; a negative binomial regression model was used to predict the number of SI sessions students attended; and an ordered probit model quantified the effect of SI attendance on final course grades. The results suggest that the program had a positive impact on final grades, with SI attendees being approximately 92% more likely to receive an A, and 94% less likely to receive a D or an F, than non-attendees. Older and married students were consistently found to be more likely to participate, as were students with large high school grade point averages. However, minority males were found to be almost 9% less likely to participate in SI than their white male counterparts.
    • A new affordability indicator for rural Alaskan water utilities

      Johnson, Barbara A. L.; Little, Joseph M.; Baek, Jungho; Kennedy, Camilla; Wright, Christopher (2016-12)
      The Alaska Department of Environmental Conservation (DEC) administers funding for the construction of new water utilities in rural parts of the state. Funding allocation is partially based on whether the recipient community can cover the annual operation, maintenance, repair, equipment and capital replacement costs of the utility. Currently, the DEC deems a project affordable if the annual costs account for 5% or less of the community's median household income (MHI). In rural Alaska MHI is an inaccurate affordability indicator. This is partially because MHI fails to reflect the cost burden experienced by below median income households, it is a static snapshot of income, it does not account for living costs, nor does it account for the demographic composition of a community or the distribution of income. An alternative indicator was developed. The new indicator is composed of a Residential Indicator (RI) and a Financial Capability Index (FCI). RI is obtained by dividing the community's annual user fee by each income quintile value. FCI is composed of socioeconomic indicators chosen for their ability to detail the situation in rural Alaska. The FCI value is obtained by calculating the average of score assigned to the indicators based on pre-established thresholds. The new indicator was found to be more accurate than the MHI indicator. The new indicator was retroactively applied to Akiachak and found to more accurately assess affordability. The new indicator was also used to assess the current situation in communities with water utilities. The MHI indicator was found to have underestimated the price burden of user fees in numerous communities, and to have overestimated the burden in one community.
    • Analyzing factors affecting Alaska's salmon permit values: evidence from Bristol Bay drift gillnet permits

      Wood, Mackenzie D.; Baek, Jungho; Little, Joseph; Greenberg, Joshua (2017-05)
      The effects of total earnings, total costs and mining exploration on permit prices in Alaska are investigated using an autoregressive distributed lag (ARDL) approach to cointegration. I take specific account of regional and gear specific salmon fisheries -- that is, Bristol Bay drift gillnet permits -- in our modelling. I find that there is a stable long-run relationship among permit prices, total earnings, and total costs. It is also found that, in both the short- and long-run, total earnings have a positive and significant relationship with permit prices, while total costs have a negative and significant relationship. Although the mining exploration in the region has a negative and significant effect on permit prices in the short-run, the effect does not seem to last in the long-run.
    • Valuing residential energy efficiency in two Alaska real estate markets: a hedonic approach

      Pride, Dominique J.; Little, Joseph; Baek, Jungho; Lovecraft, Amy Lauren; Mueller-Stoffels, Marc (2017-05)
      Alaska households have high home energy consumption and expenditures. Improving the energy efficiency of the housing stock can reduce home energy consumption, thereby reducing home energy expenditures and CO₂ emissions. Improving the energy efficiency of a home may also increase its transaction price if the energy efficiency improvements are capitalized into the value of the home. The relationship between energy efficiency and transaction prices in the Fairbanks and Anchorage, Alaska residential real estate markets is examined. Using a hedonic pricing framework and difference-in-differences analysis, the impact of the Alaska Home Energy Rebate program on the transaction prices of single-family homes in the Fairbanks and Anchorage housing markets from 2008 through 2015 is examined. The results indicate that compared to homes that did not complete the program, homes that completed the program sell for a statistically significant price premium between 15.1% and 15.5% in the Fairbanks market and between 5% and 11% in the Anchorage market. A hedonic pricing framework is used to relate energy efficiency ratings and transaction prices of homes in the Fairbanks and Anchorage residential real estate markets from 2008 through 2015. The results indicate that homes with above-average energy efficiency ratings sell for a statistically significant price premium between 6.9% and 17.5% in the Fairbanks market and between 1.8% and 6.0% in the Anchorage market.
    • Invasive elodea threatens remote ecosystem services in Alaska: a spatially-explicit bioeconomic risk analysis

      Schwoerer, Tobias; Little, Joseph; Adkison, Milo; Baek, Jungho; Hayward, Greg; Morton, John (2017-05)
      This dissertation links human and ecological systems research to analyze resource management decisions for elodea, Alaska's first submerged aquatic invasive plant. The plant likely made it to Alaska through the aquarium trade. It was first discovered in urban parts of the state but is being introduced to remote water bodies by floatplanes and other pathways. Once introduced, elodea changes freshwater systems in ways that can threaten salmon and make floatplane destinations inaccessible. The analysis integrates multiple social and ecological data to estimate the potential future economic loss associated with its introduction to salmon fisheries and floatplane pilots. For estimating the effects on commercial sockeye fisheries, multiple methods of expert elicitation are used to quantify and validate expert opinion about elodea's ecological effects on salmon. These effects are believed to most likely be negative, but can in some instances be positive. Combined with market-based economic valuation, the approach accounts for the full range of potential ecological and economic effects. For analyzing the lost trip values to floatplane pilots, the analysis uses contingent valuation to estimate recreation demand for landing spots. A spatially-explicit model consisting of seven regions simulates elodea's spread across Alaska and its erratic population dynamics. This simulation model accounts for the change in region-specific colonization rates as elodea populations are eradicated. The most probable economic loss to commercial fisheries and recreational floatplane pilots is $97 million per year, with a 5% chance that combined losses exceed $456 million annually. The analysis describes how loss varies among stakeholders and regions, with more than half of statewide loss accruing to commercial sockeye salmon fisheries in Bristol Bay. Upfront management of all existing invasions is found to be the optimal management strategy for minimizing long-term loss. Even though the range of future economic loss is large, the certainty of long-term damage favors investments to eradicate current invasions and prevent new arrivals. The study serves as a step toward risk management aimed at protecting productive ecosystems of national and global significance.
    • Willingness to pay for reindeer meat attributes: a niche market study in Interior Alaska

      Burke, Nathaniel C.; Little, Joseph; Greenberg, Joshua; Wright, Christopher (2017-05)
      The Alaskan market for reindeer meat is unique. This study's aim is to estimate the average consumer willingness to pay for a range of reindeer meat attributes. These attributes include those that have a direct impact on meat quality such as cut and fat percentage, as well as intangible qualities, such as where the meat is grown and by whom it was raised. The study focuses on the preferences of people in Interior Alaska, specifically the Fairbanks Northstar Borough. The Reindeer Act of 1937 and supply infrastructure limitations have both contributed to a low level of reindeer meat production in Alaska. This study uses an adaptive choice-based conjoint to measure what attributes participants find most important and estimate how much they are willing to pay for those reindeer meat attributes.
    • Homeland security and emergency management education: an investigation into workforce needs

      Carlson, Cameron D.; Berry, Kevin T.; Cupp, O. Shawn; Baek, Jungho; Little, Joseph; Thomas, Kevin (2017-05)
      The U.S. Department of Homeland Security (DHS) was created in the wake of the September 11th 2001 terrorist events. DHS's formation, the largest reorganization of a governmental agency in over 50 years, brought a new emphasis on the protection of the nation, its citizens and its infrastructure to government emergency management policy. Previously, the locus of emergency management had lain with the Federal Emergency Management Agency (FEMA), which had strongly emphasized natural disaster response. The rise of FEMA and DHS were only the latest iterations in a long history of policy shifts in this space driven by the perceived threats and prevailing political dynamics of the day. Arguably, the complex and intertwined nature of contemporary hazards calls for a dual emphasis in the homeland security and emergency management (HSEM) enterprise; that is, awareness and capabilities that span both fields. As applied disciplines, scholarship in homeland security and emergency management has always had strong links to the evolving practice of the HSEM enterprise. In addition to providing research to guide practice, baccalaureate programs in both homeland security and emergency management have emerged to address the operational and educational capabilities required by practitioners. In the post-9/11 environment, the increasingly complex demands placed upon our homeland security and emergency management enterprise require a better-integrated education. This study serves to demonstrate consensus regarding the significance of an integrated curricula in homeland security and emergency management meeting the needs of the workforce.
    • Predicting the probability of conversion to natural gas in the Fairbanks Northstar Borough

      Hume, Jordan M.; Little, Joseph; Wright, Christopher; Greenberg, Joshua (2017-05)
      In 2013 a phone survey was conducted for Northern Economics Inc. by Ivan Moore Research Group, with the goal of determining the willingness of households in the Fairbanks North Star Borough to convert their residence to natural gas. This paper provides an analysis of prior household discrete choice experiments involving energy usage. Probit regression is used to determine the probability of conversion given different levels of household income, payback period, cost of conversion, and annual saving associated with conversion, in addition to these variables three statistically significant attitudinal variables are included. Marginal effects and elasticities are presented and interpreted. Findings are congruent with past research and indicate that to maximize the conversion rate of households, the cost of conversion needs to be minimized or, if possible, subsidized and the annual level of saving maximized. Initial results suggest conversion cost is weighed more heavily than annual savings.
    • On the willingness-to-pay for Elodea removal in the Fairbanks North Star Borough

      Kaczmarski, Jesse I.; Little, Joseph; Greenberg, Joshua; Fix, Peter (2018-05)
      The empirical research conducted herein addresses a public need for the funding of a project that would eradicate Elodea in the Fairbanks North Star Borough (FNSB). The eradication project has been outlined and approved by State and Federal agencies and has gathered funding to begin the eradication process. The study aims to develop a mean willingness-to-pay value for survey participants by shifting the funding burden to property tax payers. This body of work includes a primer on Elodea in the borough, an overview of contingent valuation, a parametric approach to willingness-to-pay, and results of the study conducted on Fairbanks property owners. The average willingness-to-pay per survey respondent is $50.32. In addition, 72% of survey respondents voted for the enactment of the program at their proposed cost level. These financial burdens took values of $10, $30, $60, or $120 per year for 4 years to fund the proposed program. A penalized maximum log-likelihood estimation found that the most significant predictors for the likelihood of a yes vote are the respondent's perceived risk to the ecosystem and recreational opportunities. Additionally, the respondents concern for the use of herbicides in the borough to treat the Elodea infestation is highly significant. The high level of prior knowledge throughout the survey indicates that respondents had established view on Elodea prior to the survey.
    • Up in smoke: exploring the relationship between forest firefighting and subsistence harvest

      Rodrigues, Alyssa V. S.; Little, Joseph; Greenberg, Joshua; Trainor, Sarah; Brinkman, Todd J. (2018-05)
      Wildland firefighting in Alaska is changing due to the impact of climate change on the boreal forest. Changes to the wildland firefighting regime could have significant impacts on community participation during fall subsistence hunting and, consequentially, food security levels. Many rural Alaska communities have mixed cash-subsistence economies in which people have to balance their time between earning an income and harvesting subsistence foods. Cash income is necessary to pay for things such as housing, electricity, gasoline, gun, ammunition, and other capital necessary to engage in subsistence. This dissertation aims to better understand the current relationship between Type 2, or hand crew, wildland firefighting and subsistence, primarily fall subsistence hunting, through several methods. Surveys and interviews were conducted with Type 2 wildland firefighters followed by policy recommendations. Econometric modeling of the wildfire attributes, community attributes, and firefighting wages and dispatches was conducted. Lastly, a food production simulation was conducted. Utilizing these various methods gives a well-rounded understanding of the relationship between firefighting and subsistence. Firefighting wages currently contribute to subsistence harvest productivity. As climate change lengthens the fire season, rural Type 2 fire crews will continue to participate in firefighting and fall subsistence hunting. Only under the most extreme estimates of future wildland fires does time spent fighting fire reduce time spent on subsistence fall hunting by much so that rural communities are unable to meet their subsistence needs.
    • Market impacts and global implications of U.S. shale development and hydraulic fracturing: an economic, engineering, and environmental perspective

      Umweke, Maduabuchi Pascal; Baek, Jungho; Patil, Shirish; Perkins, Robert; Reynolds, Douglas (2018-05)
      The United States oil industry is experiencing a revolution because of significant oil production from tight oil plays since the mid-2000s. Advancements in horizontal well drilling and hydraulic fracturing are powering this new chapter in oil development. Increased oil production has brought billions of dollars of new revenue to oil companies involved in tight oil exploration and production, new jobs in the oil industry, and more tax revenue to oil regions around the U.S. However, tight oil resources do not only exist in the U.S. An understanding of the U.S. tight oil development experience could bring value to stakeholders within and outside the United States, and provide lessons and templates applicable in other tight oil regions. This research examines the U.S. tight oil experience and draws lessons for aspiring tight oil regions on the engineering, economic, and environmental fronts. On the economic front, I have examined an autoregressive distributed lag (ARDL) model on key oil industry macroeconomic data (West Texas Intermediate oil price, tight oil production, and rig count) from 2007 through 2016, and the impact of oil price on tight oil development for the Bakken, Eagle Ford, Niobrara, and Permian tight oil plays. The results show that oil companies in different plays react differently to oil price signals and do so in relation to oil field development characteristics. In addition, oil production and drilling intensity in the Eagle Ford play is found to be most responsive to oil price increases than the Permian, Bakken, or Niobrara oil plays. The Permian play was most resilient during the 2014 through 2016 oil price plunge. Oil production does not fall in response to a decrease in oil price, equally as it rises in response to oil price increase. Tight oil operators are quicker in bringing drilling rigs to service as prices rise than they take them away in response to falling oil prices, but do reduce drilling significantly in response to an oil price plunge. These results have significant ramifications for operators and assets in the respective oil plays or future plays with similar development characteristics. On the engineering front, I used petroleum engineering oil production forecasting Decline Curve Analysis techniques, the Drillinginfo Software, and historical development data of U.S. plays, to conduct oil production forecast for seven U.S. tight oil plays. Forecast results are shown to be comparable to forecasts by the Energy Information Administration (EIA). Building on previous EIA geologic studies on non-U.S. tight oil plays, and by selecting best analogues from within U.S. tight oil plays, I have completed an economic assessment and uncertainty analysis for 10 non-U.S. tight plays using a simple fiscal tax regime. The results indicate that the Eagle Ford play in Mexico, the Vaca Muerta play in Argentina, and the Qingshankou play in China rank highest among the plays studied. Of oil price, royalty rate, discount rate, well cost, extraction tax, and recovery factor parameters evaluated, results indicate that oil price and well cost are among the biggest drivers of profitability in these plays. On the environmental front, I conducted case studies on the busiest U.S. tight oil plays (Bakken and Eagle Ford) and examined the impact of tight oil development on the environment. Local solutions to environmental challenges alongside environmental regulations are discussed and presented as possible templates for other aspiring plays. Since securing freshwater sources alongside wastewater management emerge as major issues in tight oil development, a cost comparison is conducted for reused water disposal versus one-use water disposal options, for a hypothetical development. Results indicate that on a cost-per-well basis, the reduction in water disposal volume from subsurface frack flowback retention improves water reuse economics; the water reuse option is preferable to one-use water disposal for U.S. oil plays. This result points to potential cost savings for reused water disposal in regions such as the Bakken with few disposal wells.
    • Impact of specific CSR activities, executive & board diversity on equity valuations

      Williams, David J.; Little, Joseph; Baek, Jungho; Greenberg, Joshua (2018-05)
      The objective of this study is to identify the impact of specific corporate social responsibility behaviors on equity prices. This study uses fixed effect parametric and nonparametric regressions to quantify the effect of specific corporate social responsibility activities on the equity price multiples of a number of US firms from 1999 to 2009. The results of these empirical models consistently show that CEO diversity, corporate charitable giving, and work-life balance benefit plans, are associated with lower equity price multiples compared against similar firms that lack these characteristics. Additionally, board diversity and support of the LBGTQ community is associated with a positive impact on equity price multiples. This study provides evidence that individual corporate social responsibility activities can have drastic impacts on equity prices, leading the way for future research testing whether the magnitudes of these impacts are rational and in-line with their expected impact on financial performance and risk, or a deviation from the efficient market hypothesis.
    • Analysis of energy consumption on the environmental Kuznets curve hypothesis in the United States: does renewable energy play a role?

      Ohnesorge, Michelle; Little, Joseph; Baek, Jungho; Greenberg, Joshua (2018-05)
      Using CO₂ emissions as a representation of environmental degradation an empirical econometric analysis is conducted to see if there is evidence of an Environmental Kuznets Curve in the United States and if renewable energy consumption plays a significant role in CO₂ emission mitigation. The renewable energy consumption variable was broken down further to isolate geothermal, hydroelectric, biomass, solar, and wind energy consumption and explore their role in the analysis. An Auto-Regressive Distributed Lag approach to cointegration with Pooled Mean Groups and Mean Groups estimations was used on U.S. state (including District of Columbia) specific data from 1987 to 2015 to calculate the long and short run results that would support an Environmental Kuznets Curve hypothesis. The panel of states was divided into low, medium, and high GDP brackets as disaggregate models and those were examined along with a model of the entire United States. Evidence for an Environmental Kuznets Curve for the United States could not be established in the aggregate model, however it was found that renewable energy consumption did have a negative coefficient, which indicates CO₂ emission mitigation through renewable energy consumption. Out of the individual renewable energy consumption variables tested, only wind energy consumption was found to be statistically significant while the model also exhibited evidence to support an Environmental Kuznets Curve hypothesis in this aggregate model. Looking at the different GDP state brackets, low GDP states were the only bracket that yielded evidence of an Environmental Kuznets Curve in the disaggregate models. For estimations with the low GDP states bracket looking at the individual renewable energy consumption variables, hydroelectric, biomass, solar, and wind energy consumption variables were statistically significant as well. The medium GDP bracket states aggregate model did not yield conclusive results, stemming from the lack of slope in the GDP variable for this model. Out of the individual renewable energy consumption variables tested in the subset, biomass was the only energy consumption to be statistically significant while the model exhibited evidence of an Environmental Kuznets Curve. The high GDP bracket aggregate model did not yield results showing evidence of an Environmental Kuznets Curve, while the individual renewable energy consumption variable subset models geothermal and wind energy consumption were statistically significant within models showing evidence of an Environmental Kuznets Curve. Breaking out these separate renewable energy consumption variables in an Environmental Kuznets Curve analysis can provide empirical support for policy and investment in specific renewable energy technology.
    • Hunters like skewness, not risk: evidence of gambling behaviors in the Alaska hunting permit lottery

      Lane, Brock; Little, Joseph; Greenberg, Joshua; Baek, Jungho (2018-05)
      In Alaska, hunting permits are distributed by traditional lottery. The absence of a preference point system means that applicants have little invested in their applications, and there are a variety of fallback hunting opportunities. Not unlike a jackpot-style state lottery, the cost to play is low relative to the potential prize winnings. These factors may cause risk-averse or risk-neutral individuals to exhibit a preference for positive skewness in their bets. Analysis in this paper is focused on four prevalent game species: moose, dall sheep, mountain goat, and bison. Pooled Ordinary Least Squares regression models were constructed to predict permit application levels as a function of various hunt characteristics, qualities, and restrictions. Permit descriptions are provided to applicants in a published document called the drawing supplement, which is the primary source of data for this study. Additional hunter-reported data is obtained from the Alaska Department of Fish and Game website. A comparison of calculated permit values and private ranch hunting opportunities validates many of the observations drawn from the models. Permit values are also used to fit a cubic model of bettor utility. Even when awarded prizes are not monetary, applicants exhibit a preference for positive skewness and aversion from risk that is typically associated with gambling.
    • Tourism development and public policy: perceptions of the Chuukese community

      Perez, Gerald San Agustin; Baek, Jungho; Schumann, Fred; Caroll, Jennifer; Walter, Ansito (2019-05)
      Tourism is a widely used tool for economic development in small insular communities. This mixed methods study examines factors that influence residents' perceptions toward tourism development in Chuuk and the relevance of "complexity theory" in describing the island's stage of development. Empirical evidence and data triangulation corroborate general support for tourism development and sensitivity to cultural impacts, economic impacts, social impacts, environmental impacts, local control and sustainability. Economic and cultural impacts were the strongest factors influencing perceptions and are most significant to sustainable development and destination development. This reflects residents' beliefs that the island will benefit from tourism because of perceived improvements in the economy, infrastructure, tourist facilities and expanded social amenities. It also reflects residents' expectations for long term planning, managed growth, and laws to protect the environment. Some differences and similarities are noted between sampled residents living in Chuuk and Guam. This study is the first of its kind in an isolated region lacking scholarship literature on tourism. As such, basic information gathered is a wellspring, for further research into issues of social justice using a more sequential transformative framework.
    • Determinants of anglers willingness to pay to support the Recreational Quota Entity program

      Mitchell, McKenzie; Little, Joseph; Criddle, Keith; Greenberg, Joshua; Hermann, Mark (2019-05)
      This study applies data from a web-based survey administered to Alaska sport fish license holders in 2017 to examine the newly introduced Recreational Quota Entity (RQE) program in Alaska's guided halibut sport fishery and the possibility of increasing halibut available to sport anglers by funding this program through a state-endorsed halibut stamp. Two valuation questions were randomized amongst the survey sample. The questions were designed to elicit willingness to pay (WTP) for a halibut stamp in support of the RQE program under (1) status quo halibut fishing regulations (2) more relaxed charter halibut fishing regulations made possible through revenues from halibut stamp sales. The need for two valuation questions is in response to the many factors that would ultimately determine the degree to which charter fishing regulations could be relaxed and the time needed for regulatory change made possible through revenues from halibut stamp sales. The findings indicate that non-resident anglers and resident anglers have a very similar WTP for a state-endorsed halibut stamp and that anglers are willing to pay for a halibut stamp despite having little or no history of participation in the halibut fishery. The pairwise comparison among mean WTP estimates from both valuation questions indicates that differences in anglers' WTP are inconsequential. Findings suggest that the WTP for a state-endorsed halibut stamp reflects an interest in preserving access to the fishery or the value of reserving an option to participate in the halibut fishery. Respondent education level and employment status were found to be statistically significant determinants of anglers' willingness to pay for a state-endorsed halibut stamp to support the RQE program.