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The Value Of Improved Water Quality To Chesapeake Bay Boaters

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  • Lipton, Douglas W.

Abstract

As part of an economic survey of Maryland registered boat owners, an open ended contingent valuation question was posed regarding willingness to pay for an improvement in water quality in Chesapeake Bay. The boaters ranked their perception of water quality on a scale of one to five, and the payment was for an improvement of one unit. Boaters also indicated the type of concern poor water quality raised, ranging from no concern to concern about long term effects of exposure to toxic chemicals. Median willingness to pay for a one step improvement in water quality was $17.50 per year and the mean was $63, with 38% expressing a zero willingness-to-pay. A tobit model was estimated to determine what factors influenced willingness to pay amounts. Sailboaters and boats that were kept in the water rather than trailered were willing to pay more for water quality improvements. Additionally, the lower the individual ranked water quality and the greater concern for the health effects from water quality, the more the willingness to pay for a water quality improvement. In aggregate, Chesapeake Bay boaters in Maryland were willing to pay approximately $7.3 million per year to achieve the stated water quality improvement. The present value of this improvement, at a 5% discount rate is a $146 million.

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Bibliographic Info

Paper provided by University of Maryland, Department of Agricultural and Resource Economics in its series Working Papers with number 28603.

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Date of creation: 2003
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Handle: RePEc:ags:umdrwp:28603

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Keywords: Resource /Energy Economics and Policy;

References

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  1. Mark L. Messonnier & John C. Bergstrom & Christopher M. Cornwell & R. Jeff Teasley & H. Ken Cordell, 2000. "Survey Response-Related Biases in Contingent Valuation: Concepts, Remedies, and Empirical Application to Valuing Aquatic Plant Management," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(2), pages 438-450.
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Cited by:
  1. 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.
  2. Cropper, Maureen L. & Isaac, William, 2011. "The Benefits of Achieving the Chesapeake Bay TMDLs (Total Maximum Daily Loads): A Scoping Study," Discussion Papers dp-11-31, Resources For the Future.
  3. Ghermandi, Andrea & Nunes, Paulo A.L.D., 2013. "A global map of coastal recreation values: Results from a spatially explicit meta-analysis," Ecological Economics, Elsevier, vol. 86(C), pages 1-15.
  4. Scharin, Henrik, 2004. "Management of eutrophicated coastal zones," Department of Economics publications 717, Swedish University of Agricultural Sciences, Department of Economics.
  5. Ge, Jiaqi & Kling, Catherine L. & Herriges, Joseph A., 2013. "How Much is Clean Water Worth? Valuing Water Quality Improvement Using A Meta Analysis," Staff General Research Papers 36597, Iowa State University, Department of Economics.
  6. Halkos, George, 2012. "The use of contingent valuation in assessing marine and coastal ecosystems’ water quality: A review," MPRA Paper 42183, University Library of Munich, Germany.

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