Natural resources are important to rural economies in terms of the amenities they provide and the economic opportunities they generate for the surrounding communities. In many rural areas, open space provided by ranchlands provides important amenities to tourists and residents. In addition, land use may also affect the local water quality and thus produce further impacts on local amenities and regional economic opportunities.

This dissertation looks at the value of ranchland open space and water quality in Chaffee County, Colorado. The value of ranchland open space and water quality to visitors to Chaffee County is estimated using non-market valuation techniques. Two joint-methods are used to obtain values for ranchland open space and water quality. The first method combines travel cost and contingent behavior data, while the second method uses travel cost, contingent behavior and contingent valuation information to estimate values for these resources. A third application combines regional economic analysis with the non-market valuation data to estimate the impacts of decreased natural resource quality on the local economy. The results show loss of ranchland open space will result in welfare losses to visitors to the county and that associated impacts from decreased water quality could significantly increase those losses.