Valuing the Incremental Benefits of Groundwater Protection when Exposure Levels are Known
AbstractBoth economic theory and psychological research indicate that benefit functions for reductions in health risk exposures may be conditional on current exposures. Using nitrates found in household wells, it is demonstrated that perceptions of health risks across exposure levels are affected by the individual's current exposure level, thus providing support for a conditional benefits function approach. Functions of conditional incremental benefits are estimated from a contingent valuation study of households that had been informed of their water test results. Incremental benefits reach a peak at an intermediate level of nitrates and then decline. Possible explanations for this non-convexity are provided. Copyright Kluwer Academic Publishers 1999
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Bibliographic InfoArticle provided by European Association of Environmental and Resource Economists in its journal Environmental and Resource Economics.
Volume (Year): 13 (1999)
Issue (Month): 3 (April)
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Web page: http://www.springerlink.com/link.asp?id=100263
contingent valuation; damage and benefit functions; groundwater quality; risk perceptions; JEL classification: Q21; Q25; D62;
Find related papers by JEL classification:
- JEL - Labor and Demographic Economics - - - - -
- cla - - - - - -
- Q21 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Demand and Supply; Prices
- Q25 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Water
- D62 - Microeconomics - - Welfare Economics - - - Externalities
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