Valuing Access to our Public Lands: A Unique Public Good Pricing Experiment

for the pass when contrasted with previous pass sales. A sample of recent pass purchasers, however,
exhibits little hypothetical bias; supporting the idea that market experience can help mitigate the bias.
After accounting for the hypothetical bias, our results suggest that to maintain the “revenue neutrality”
target desired by the federal agencies, the NRP price would have to be around $150 for the general
population sample and $200 for recent pass purchasers. In December 2006, the federal government
announced the price of the new recreation pass—America the Beautiful Pass—would be set at $80.
According to our estimates, the now current $80 price implies an approximate $10 million loss in
revenues, or 4% of total pass and gate revenues, when considering the general U.S. population.

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