Policy analysis is complicated by the myriad of benefits and costs generatedby the use of natural resources. This study develops three benefits thatmust be considered in the granting of a consumptive use permit for waterfiled by Adena Springs Ranch, east of Ocala, Florida. This ranch is hopingto expand into grass-fat beef; but to do so, it needs additional water forirrigation. Specifically, our analysis considers the potential gain from theranch, the potential negative effect on existing permit holders andenvironmental uses of water, and the possible positive value generated bythe increased surface flow for other recreational users in eastern MarionCounty.
