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Valuing New South Wales rivers for use in benefit transfer

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  • Morrison, Mark
  • Bennett, Jeffrey W.

Abstract

The results from seven choice modelling applications designed to value improved river health in New South Wales are reported. These applications were designed to provide value estimates that could be used, through benefit transfer, to value improvements in the health of other rivers within the state. Because of limitations on the number of rivers that could be valued and populations sampled, a pooled model for use in benefit transfer was also estimated. The results indicate that both use and non‐use values were found to exist for all catchments. In addition, value estimates were found to differ across catchments when populations resident within catchments were sampled. However, when populations resident outside catchments were sampled for two of these catchments, value estimates were found to be statistically similar. This indicates the importance of valuing improved river health in specific catchments by sampling populations within catchments. Yet, it also indicates that it is less critical to conduct multiple surveys of residents outside catchments to value improved river health.

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Bibliographic Info

Article provided by Australian Agricultural and Resource Economics Society in its journal Australian Journal of Agricultural and Resource Economics.

Volume (Year): 48 (2004)
Issue (Month): 4 (December)
Pages:

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Handle: RePEc:ags:aareaj:117994

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Keywords: Resource /Energy Economics and Policy;

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References

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  1. Hausman, Jerry A. & Ruud, Paul A., 1987. "Specifying and testing econometric models for rank-ordered data," Journal of Econometrics, Elsevier, vol. 34(1-2), pages 83-104.
  2. Mark Morrison & Jeff Bennett & Russell Blamey & Jordan Louviere, 2002. "Choice Modeling and Tests of Benefit Transfer," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 84(1), pages 161-170.
  3. M. Morrison & R. Blamey & J. Bennett, 2000. "Minimising Payment Vehicle Bias in Contingent Valuation Studies," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 16(4), pages 407-422, August.
  4. Bennett, Jeffrey W., 1999. "A Threshold Value Analysis Of Proposed Forest Reserves," 1999 Conference (43th), January 20-22, 1999, Christchurch, New Zealand 123768, Australian Agricultural and Resource Economics Society.
  5. Pate, Jennifer & Loomis, John, 1997. "The effect of distance on willingness to pay values: a case study of wetlands and salmon in California," Ecological Economics, Elsevier, vol. 20(3), pages 199-207, March.
  6. Catherine L. Kling & Cynthia J. Thomson, 1996. "The Implications of Model Specification for Welfare Estimation in Nested Logit Models," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 78(1), pages 103-114.
  7. R.K. Blamey & J.W. Bennett & J.J. Louviere & M.D. Morrison & J.C. Rolfe, 2002. "Attribute Causality in Environmental Choice Modelling," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 23(2), pages 167-186, October.
  8. Ronald J. Sutherland & Richard G. Walsh, 1985. "Effect of Distance on the Preservation Value of Water Quality," Land Economics, University of Wisconsin Press, vol. 64(3), pages 281-291.
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