IDEAS home Printed from https://ideas.repec.org/a/kap/enreec/v3y1993i5p487-494.html
   My bibliography  Save this article

Differentiating use and nonuse values for coastal pond water quality improvements

Author

Listed:
  • Yoshiaki Kaoru

Abstract

This paper measures the benefits of water quality improvements in three coastal ponds on the island of Martha's Vineyard, Massachusetts, U.S.A. Use, option, and existence values were elicited from Martha's Vineyard property owners by the contingent valuation method. On average, more than half of the total benefits are attributed to existence value. Results from the Heckman selection model show that the exclusion of protest, as well as missing bids, does not cause significant bias in estimating respondents' willingness-to-pay. Socioeconomic characteristics are found to have distinctively different influences on use, option, and existence values. Different model parameters are likely to be estimated depending on which value categories are measured by a selected valuation technique. These findings emphasize the importance of nonuse values from water quality improvements and of socioeconomic characteristics for measuring different categories of values. Copyright Kluwer Academic Publishers 1993

Suggested Citation

  • Yoshiaki Kaoru, 1993. "Differentiating use and nonuse values for coastal pond water quality improvements," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 3(5), pages 487-494, October.
    • Handle: RePEc:kap:enreec:v:3:y:1993:i:5:p:487-494
    DOI: 10.1007/BF00310250
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1007/BF00310250
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1007/BF00310250?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Johansson,Per-Olov, 1987. "The Economic Theory and Measurement of Environmental Benefits," Cambridge Books, Cambridge University Press, number 9780521348102.
    2. Graham, Daniel A, 1981. "Cost-Benefit Analysis under Uncertainty," American Economic Review, American Economic Association, vol. 71(4), pages 715-725, September.
    3. Larson, Douglas M., 1992. "Further results on willingness to pay for nonmarket goods," Journal of Environmental Economics and Management, Elsevier, vol. 23(2), pages 101-122, September.
    4. Heckman, James, 2013. "Sample selection bias as a specification error," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 31(3), pages 129-137.
    5. Douglas A. Greenley & Richard G. Walsh & Robert A. Young, 1981. "Option Value: Empirical Evidence from a Case Study of Recreation and Water Quality," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 96(4), pages 657-673.
    6. 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.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Brouwer, Roy & Martín-Ortega, Julia, 2012. "Modeling self-censoring of polluter pays protest votes in stated preference research to support resource damage estimations in environmental liability," Resource and Energy Economics, Elsevier, vol. 34(1), pages 151-166.
    2. Luís Cruz & Paula Simões & Eduardo Barata, 2014. "Combining Observed and Contingent Travel Behaviour: The Best of Both Worlds?," Notas Económicas, Faculty of Economics, University of Coimbra, issue 40, pages 7-25, December.
    3. Van Houtven, George & Powers, John & Pattanayak, Subhrendu K., 2007. "Valuing water quality improvements in the United States using meta-analysis: Is the glass half-full or half-empty for national policy analysis?," Resource and Energy Economics, Elsevier, vol. 29(3), pages 206-228, September.
    4. Kontogianni, A. & Tourkolias, C. & Machleras, A. & Skourtos, M., 2012. "Service providing units, existence values and the valuation of endangered species: A methodological test," Ecological Economics, Elsevier, vol. 79(C), pages 97-104.
    5. Michielsen, T.O., 2013. "Environmental Catastrophes Under Time-inconsistent Preferences," Discussion Paper 2013-013, Tilburg University, Center for Economic Research.
    6. Halkos, George & Matsiori, Steriani, 2012. "Determinants of willingness to pay for coastal zone quality improvement," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 41(4), pages 391-399.
    7. Thomas Michielsen, 2013. "Environmental Catastrophes under Time-Inconsistent Preferences," Working Papers 2013.55, Fondazione Eni Enrico Mattei.
    8. Khatri-Chhetri, Arun & Collins, Alan R., 2011. "Estimation of a Surface Water Quality Valuation Index for the Appalachian Region," 2011 Annual Meeting, July 24-26, 2011, Pittsburgh, Pennsylvania 103653, Agricultural and Applied Economics Association.
    9. Ojea, Elena & Loureiro, Maria L., 2011. "Identifying the scope effect on a meta-analysis of biodiversity valuation studies," Resource and Energy Economics, Elsevier, vol. 33(3), pages 706-724, September.
    10. Georgios Tentes & Dimitrios Damigos, 2012. "The Lost Value of Groundwater: The Case of Asopos River Basin in Central Greece," Water Resources Management: An International Journal, Published for the European Water Resources Association (EWRA), Springer;European Water Resources Association (EWRA), vol. 26(1), pages 147-164, January.
    11. Robert J. Johnston & Elena Y. Besedin & Ryan Stapler, 2017. "Enhanced Geospatial Validity for Meta-analysis and Environmental Benefit Transfer: An Application to Water Quality Improvements," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 68(2), pages 343-375, October.
    12. Johnston, Robert J. & Besedin, Elena Y. & Ranson, Matthew H., 2006. "Characterizing the effects of valuation methodology in function-based benefits transfer," Ecological Economics, Elsevier, vol. 60(2), pages 407-419, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ronald Cummings & Glenn Harrison, 1995. "The measurement and decomposition of nonuse values: A critical review," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 5(3), pages 225-247, April.
    2. Richard T. Carson, 2011. "Contingent Valuation," Books, Edward Elgar Publishing, number 2489.
    3. Robert J. Johnston & Kevin J. Boyle & Wiktor (Vic) Adamowicz & Jeff Bennett & Roy Brouwer & Trudy Ann Cameron & W. Michael Hanemann & Nick Hanley & Mandy Ryan & Riccardo Scarpa & Roger Tourangeau & Ch, 2017. "Contemporary Guidance for Stated Preference Studies," Journal of the Association of Environmental and Resource Economists, University of Chicago Press, vol. 4(2), pages 319-405.
    4. Clarke, Philip M., 1998. "Cost-benefit analysis and mammographic screening: a travel cost approach," Journal of Health Economics, Elsevier, vol. 17(6), pages 767-787, December.
    5. Mary Riddel & W. Douglass Shaw, 2003. "Option Wealth and Bequest Values: The Value of Protecting Future Generations from the Health Risks of Nuclear Waste Storage," Land Economics, University of Wisconsin Press, vol. 79(4), pages 537-548.
    6. Hanemann, W. Michael, 1989. "Information and the concept of option value," Journal of Environmental Economics and Management, Elsevier, vol. 16(1), pages 23-37, January.
    7. Kroetz, Kailin & Kuwayama, Yusuke & Vexler, Caroline, 2019. "What is a Fish Out of Water? The Economics Behind the Joint Management of Water Resources and Aquatic Species in the United States," RFF Working Paper Series 19-09, Resources for the Future.
    8. Sun, Henglun & Bergstrom, John C. & Dorfman, Jeffrey H., 1992. "Estimating the Benefits of Groundwater Contamination Control," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 24(2), pages 63-71, December.
    9. Catherine Kling, 1993. "An assessment of the empirical magnitude of option values for environment goods," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 3(5), pages 471-485, October.
    10. D M Hanink & K White, 1999. "Distance Effects in the Demand for Wildland Recreational Services: The Case of National Parks in the United States," Environment and Planning A, , vol. 31(3), pages 477-492, March.
    11. Young, Ralph, 1991. "The Economic Significance of Environmental Resources: A Review of the Evidence," Review of Marketing and Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 59(03), pages 1-26, December.
    12. Robert J. Johnston & Elena Y. Besedin & Ryan Stapler, 2017. "Enhanced Geospatial Validity for Meta-analysis and Environmental Benefit Transfer: An Application to Water Quality Improvements," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 68(2), pages 343-375, October.
    13. Darima Fotheringham & Michael A. Wiles, 2023. "The effect of implementing chatbot customer service on stock returns: an event study analysis," Journal of the Academy of Marketing Science, Springer, vol. 51(4), pages 802-822, July.
    14. Song, Wei-Ling & Uzmanoglu, Cihan, 2016. "TARP announcement, bank health, and borrowers’ credit risk," Journal of Financial Stability, Elsevier, vol. 22(C), pages 22-32.
    15. Raymundo M. Campos-Vázquez, 2013. "Efectos de los ingresos no reportados en el nivel y tendencia de la pobreza laboral en México," Ensayos Revista de Economia, Universidad Autonoma de Nuevo Leon, Facultad de Economia, vol. 0(2), pages 23-54, November.
    16. Jonathan Gruber & Aaron Yelowitz, 1999. "Public Health Insurance and Private Savings," Journal of Political Economy, University of Chicago Press, vol. 107(6), pages 1249-1274, December.
    17. Campbell, Randall C. & Nagel, Gregory L., 2016. "Private information and limitations of Heckman's estimator in banking and corporate finance research," Journal of Empirical Finance, Elsevier, vol. 37(C), pages 186-195.
    18. Leye Li & Louise Yi Lu & Dongyue Wang, 2022. "External labour market competitions and stock price crash risk: evidence from exposures to competitor CEOs’ award‐winning events," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(S1), pages 1421-1460, April.
    19. Calcagno, R. & Renneboog, L.D.R., 2004. "Capital Structure and Managerial Compensation : The Effects of Renumeration Seniority," Discussion Paper 2004-120, Tilburg University, Center for Economic Research.
    20. Son K. Lam & Thomas E. DeCarlo & Ashish Sharma, 2019. "Salesperson ambidexterity in customer engagement: do customer base characteristics matter?," Journal of the Academy of Marketing Science, Springer, vol. 47(4), pages 659-680, July.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:enreec:v:3:y:1993:i:5:p:487-494. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.