Using stated preferences to estimate the environmental benefits of using biodiesel fuel in diesel engines
AbstractUsing biodiesel fuel to reduce emissions from diesel engines is an area of increasing interest. Many environmental benefits associated with biodiesel are not traded in markets and their estimation requires economic valuation methods applied to non-market goods and services. This paper presents the results of a contingent valuation survey conducted in 2006 in two Ohio regions to estimate willingness to pay for air pollution reduction arising from using biodiesel fuel in diesel engines. The double bounded parametric formulation was used to estimate mean WTP ranging from $157 to $457. These results yield estimated aggregate benefits ranging from $123 to $429 million and can be used as a starting point for cost-benefit analysis.
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Bibliographic InfoPaper provided by Farm Foundation in its series Biofuels, Food and Feed Tradeoffs, Biofuels, Food and Feed Tradeoffs Conference, April 12-13, 2007, St, Louis, Missouri with number 48773.
Date of creation: 2007
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Biodiesel; diesel; air pollution; environmental benefits; contingent valuation; willingness to pay; double bounded model; Environmental Economics and Policy; Resource /Energy Economics and Policy; I18; L91; Q42; Q51; Q53;
Find related papers by JEL classification:
- I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
- L91 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Transportation: General
- Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
- Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
- Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling
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