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The Value of Scientific Information on Climate Change: A Choice Experiment on Rokua esker, Finland

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Author Info

  • Phoebe Koundouri

    (Dept. of International and European Economic Studies, Athens University of Economics and Business)

  • Eva Kougea

    (Athens University of Economics and Business)

  • Marva Stithou

    ()
    (University of Stirling, UK)

  • Pertti Ala-Aho

    (University of Oulu, Department of Process and Environmental Engineering, Water Resources and Environmental Engineering Laboratory, P.O.Box 4300, 90014)

  • Riku Eskelinen

    (University of Oulu, Department of Process and Environmental Engineering, Water Resources and Environmental Engineering Laboratory, P.O.Box 4300, 90014)

  • Timo Karjalainen

    (Thule Institute, University of Oulu, P.O. Box 7300, 90014 University of Oulu, Finland)

  • Bjorn Klove

    (University of Oulu, Department of Process and Environmental Engineering, Water Resources and Environmental Engineering Laboratory, P.O.Box 4300, 90014)

  • Manuel Pulido-Velazquez

    (Research Institute of Water and Environmental Engineering (IIAMA), Universitat Polit.cnica de Valencia, Camino de Vera s/n, 46022 Valencia, Spain)

  • Kalle Reinikainen

    (Poyry Finland Oy, Tutkijantie 2 A-D, 90590 Oulu, Finland)

  • Pekka Rossi

    (University of Oulu, Department of Process and Environmental Engineering, Water Resources and Environmental Engineering Laboratory, P.O.Box 4300, 90014)

Abstract

This paper presents an application of the choice experiment method in order to provide estimates of economic values generated by water quantity improvements. More importantly, this is the first choice experiment study valuing scientific information and in particular scientific information on climate change. The case study of interest is Rokua in Northern Finland, a groundwater dependent ecosystem very sensitive to climate change and natural variability. The study deals with the uncertainty about the actual dynamics of the system and the effect of future climate change, by exploring whether the public values improved scientific information in a choice experiment context. Data are analysed using a nested multinomial logit model. Evidence from this study suggests that individuals are willing to pay for an increase in scientific research to better understand long-terms environmental changes and as a result policy should consider investing and supporting related research. Particularly, apart from water quantity and recreation, investment on scientific research appears to be a significant factor in the choice of a water management policy, demonstrating also a higher value compared to the other changes that management practices are going to bring.

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Bibliographic Info

Paper provided by Athens University of Economics and Business in its series DEOS Working Papers with number 1132.

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Handle: RePEc:aue:wpaper:1132

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Related research

Keywords: choice experiment method; nested logit model; willingness to pay; improved scientific information; groundwater management practices.;

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