An Empirical Analysis of Hunting Lease Pricing and Value of Game in Sweden

Abstract

Game species generate considerable benefits to society in terms of hunting values, tourism, and maintenance of ecosystem balance. This paper seeks to estimate hunting values for multiple hunted species by disentangling the role of wildlife harvesting opportunities from other factors that affect hunting lease prices. We examine the determinants of hunting lease prices in Sweden using both spatial and nonspatial econometric techniques. Our analysis confirms considerable hunting values for fallow deer and wild boar. Also, the study reveals the presence of spatial spillovers in lease prices, implying that landowners have little scope for exerting monopoly power on the hunting lease market. (JEL Q23, Q26)