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Valuation of Natural Resource Improvements in the Adirondacks

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Author Info
H. Spencer Banzhaf
Dallas Burtraw
David Evans
Alan Krupnick

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Abstract

For 20 years acid rain in the Adirondack Park has been a central issue in the debate about clean air regulation. Based on a contingent valuation survey of New York residents, our study quantifies the total economic value of expected ecological improvements in the park from forthcoming policies. Our preferred estimates of the mean household willingness to pay range from $48 to $107 annually, which imply total statewide benefits ranging from $336 million to $749 million annually. Alternative assumptions about ecological changes yield benefits up to $1.1 billion. The instrument passes external scope, sensitivity to bid, and sample selection tests.

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File URL: http://le.uwpress.org/cgi/reprint/82/3/445
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Publisher Info
Article provided by University of Wisconsin Press in its journal Land Economics.

Volume (Year): 82 (2006)
Issue (Month): 3 ()
Pages: 445-464
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Handle: RePEc:uwp:landec:v:82:y:2006:i:3:p:445-464

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Find related papers by JEL classification:
Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects

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  1. Lindhjem, Henrik & Navrud, Ståle, 2008. "Asking for Individual or Household Willingness to Pay for Environmental Goods? Implication for aggregate welfare measures," MPRA Paper 11469, University Library of Munich, Germany. [Downloadable!]
  2. V. Smith & Carol Mansfield & Laurel Clayton, 2009. "Valuing a homeland security policy: Countermeasures for the threats from shoulder mounted missiles," Journal of Risk and Uncertainty, Springer, vol. 38(3), pages 215-243, June. [Downloadable!] (restricted)
  3. Debra Israel, 2007. "Environmental participation in the U.S. sulfur allowance auctions," Environmental & Resource Economics, European Association of Environmental and Resource Economists, vol. 38(3), pages 373-390, November. [Downloadable!] (restricted)
  4. V. Kerry Smith & Carol Mansfield & Laurel Clayton, 2008. "Valuing a Homeland Security Policy: Countermeasures for the Threats from Shoulder Mounted Missiles," NBER Working Papers 14325, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  5. Mische John, Anna & Burtraw, Dallas & Evans, David & Banzhaf, H. Spencer & Krupnick, Alan & Siikamäki, Juha, 2008. "An Update on the Science of Acidification in the Adirondack Park," Discussion Papers dp-08-11, Resources For the Future. [Downloadable!]
  6. Lindhjem, Henrik & Navrud, Ståle, 2008. "Internet CV surveys – a cheap, fast way to get large samples of biased values?," MPRA Paper 11471, University Library of Munich, Germany. [Downloadable!]
  7. Burtraw, Dallas & Palmer, Karen & Shih, Jhih-Shyang, 2005. "Reducing Emissions from the Electricity Sector: The Costs and Benefits Nationwide and for the Empire State," Discussion Papers dp-05-23, Resources For the Future. [Downloadable!]
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