How Much is Clean Water Worth? Valuing Water Quality Improvement Using A Meta Analysis
AbstractThis paper has developed and estimated a valuation model for water quality improvement. After reviewing more than 100 studies, we set up a data set that has 332 valuations from 38 distinct studies. Based on the data set, we estimate a linear valuation model, which can then be used to predict the mean willingness to pay by households living in a given region for water quality improvement at a given site. For instance, the willingness to pay by a typical household living in the state of Iowa for a water quality increase from 40 to 50 (out of 100) at a one-square-mile aquatic site, like Iowaâ€™s Spirit Lake, is predicted to be $137.52. The valuation model developed in this paper is particularly convenient when we want to evaluate the benefit of a project that aims at improving water quality, but a primary study is too costly or time consuming.
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Bibliographic InfoPaper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 36597.
Date of creation: 30 Mar 2013
Date of revision:
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Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
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This paper has been announced in the following NEP Reports:
- NEP-AGR-2013-10-05 (Agricultural Economics)
- NEP-ALL-2013-10-05 (All new papers)
- NEP-ENV-2013-10-05 (Environmental Economics)
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