Abstract
This paper examines the relative economic efficiency of three distinct beach erosion management policies — beach nourishment with shoreline armoring, beach nourishment without armoring, and shoreline retreat. The analysis focuses on (i) the recreational benefits of beaches, (ii) the property value effects of beach management, and (iii) the costs associated with the three management scenarios. Assuming the removal of shoreline armoring improves overall beach quality, beach nourishment with shoreline armoring is the least desirable of the three alternatives. The countervailing property losses under a retreat strategy are of the same order of magnitude as the foregone management costs when the beneficial effects of retreat — higher values of housing services for those houses not lost to erosion — are considered. The relative desirability of these alternative strategies depends upon the realized erosion rate and how management costs change over time.
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