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Abstract
Cash returns to recreation enterprise labor and management are low. Low returns are associated with poor location, small size, and short season. Land-value appreciation may offset low returns for some operators and explain why they stay in business. Profit maximization is not always the prime entrepreneurial goal: personal and noneconomic considerations or long-run capital gain may have an overriding effect. This situation could change if low returns were coupled with high property taxation over a prolonged period. Recreation researchers could add to existing knowledge by classifying all firms according to entrepreneurial goals.
Parent Publication
Citation
Bevins, Malcolm I. 1971. Private recreation enterprise economics. In: Larson, E.vH., ed. The Forest Recreation Symposium. State University of New York College of Forestry; 1971 October 12-14: U.S. Department of Agriculture, Forest Service, Northeastern Forest Experiment Station. 33-39.
