IDEAS home Printed from https://ideas.repec.org/p/ags/aare07/10404.html
   My bibliography  Save this paper

Environmental economics and valuation: towards a practical investment framework for Catchment Management Authorities in New South Wales

Author

Listed:
  • Farquharson, Robert J.
  • Hill, Christine M.
  • Bennett, Jeffrey W.
  • Tracey, Jacqueline

Abstract

The Catchment Management Authorities in New South Wales have programs that are collectively investing $436 million over four years to achieve catchment-wide natural resource/environmental improvements. In this paper, we consider the question of how to best allocate these resources so as to increase the well-being of the public within catchments and the state. We consider the current approaches used by CMAs and make a case for Benefit-Cost Analysis as an alternative means of assessing ex ante questions of priority setting at the catchment level and for project appraisal. A major issue for BCA is the estimation of potential benefits from project investments, particularly the estimation of values that catchment communities and those living outside the catchments place on the non-use benefits associated with environmental improvements. We discuss alternative means of eliciting such values and propose the stated-preference method of Choice Modelling as a means of overcoming this Benefit-Cost Analysis shortcoming, because it incorporates advances in non-market valuation.

Suggested Citation

  • Farquharson, Robert J. & Hill, Christine M. & Bennett, Jeffrey W. & Tracey, Jacqueline, 2007. "Environmental economics and valuation: towards a practical investment framework for Catchment Management Authorities in New South Wales," 2007 Conference (51st), February 13-16, 2007, Queenstown, New Zealand 10404, Australian Agricultural and Resource Economics Society.
    • Handle: RePEc:ags:aare07:10404
    DOI: 10.22004/ag.econ.10404
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/10404/files/cp07fa02.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.10404?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
    ---><---

    Citations

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


    Cited by:

    1. Farquharson, Robert J. & Kelly, Jason A. & Welsh, Pam & Mazur, Kasia & Bennett, Jeffrey W., 2009. "Policy responses to invasive native species: issues of social and private benefits and costs," 2009 Conference (53rd), February 11-13, 2009, Cairns, Australia 48157, Australian Agricultural and Resource Economics Society.

    More about this item

    Keywords

    Environmental Economics and Policy;

    Statistics

    Access and download statistics

    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:ags:aare07:10404. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/aaresea.html .

    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.