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Estimating The Benefits Of Groundwater Contamination Control

  • Sun, Henglun
  • Bergstrom, John C.
  • Dorfman, Jeffrey H.

In this paper, a conceptual model for estimating option price for groundwater quality protection is developed, and the effets of subjective demand and supply uncertainty and other variables on option price are estimated. A contingent valuation study to measure option price for groundwater quality protection was conducted in southwestern Georgia. Valuation results suggest that the monetary benefits to citizens of protecting groundwater supplies from agricultural chemical contamination are quite large.

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File URL: http://purl.umn.edu/29641
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Article provided by Southern Agricultural Economics Association in its journal Southern Journal of Agricultural Economics.

Volume (Year): 24 (1992)
Issue (Month): 02 (December)
Pages:

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Handle: RePEc:ags:sojoae:29641
Contact details of provider: Web page: http://www.saea.org/jaae/jaae.htm

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  1. Smith, V. Kerry, 1992. "Arbitrary values, good causes, and premature verdicts," Journal of Environmental Economics and Management, Elsevier, vol. 22(1), pages 71-89, January.
  2. Brookshire, David S. & Ives, Berry C. & Schulze, William D., 1976. "The valuation of aesthetic preferences," Journal of Environmental Economics and Management, Elsevier, vol. 3(4), pages 325-346, December.
  3. Kahneman, Daniel & Knetsch, Jack L., 1992. "Valuing public goods: The purchase of moral satisfaction," Journal of Environmental Economics and Management, Elsevier, vol. 22(1), pages 57-70, January.
  4. David S. Brookshire & Larry S. Eubanks & Alan Randall, 1983. "Estimating Option Prices and Existence Values for Wildlife Resources," Land Economics, University of Wisconsin Press, vol. 59(1), pages 1-15.
  5. Desvousges, William H. & Smith, V. Kerry & Fisher, Ann, 1987. "Option price estimates for water quality improvements: A contingent valuation study for the monongahela river," Journal of Environmental Economics and Management, Elsevier, vol. 14(3), pages 248-267, September.
  6. Krinsky, Itzhak & Robb, A Leslie, 1986. "On Approximating the Statistical Properties of Elasticities," The Review of Economics and Statistics, MIT Press, vol. 68(4), pages 715-19, November.
  7. Bergstrom, John C. & Stoll, John R. & Titre, John P. & Wright, Vernon L., 1990. "Economic value of wetlands-based recreation," Ecological Economics, Elsevier, vol. 2(2), pages 129-147, June.
  8. Sellar, Christine & Chavas, Jean-Paul & Stoll, John R., 1986. "Specification of the logit model: The case of valuation of nonmarket goods," Journal of Environmental Economics and Management, Elsevier, vol. 13(4), pages 382-390, December.
  9. Timothy Park & John B. Loomis & Michael Creel, 1991. "Confidence Intervals for Evaluating Benefits Estimates from Dichotomous Choice Contingent Valuation Studies," Land Economics, University of Wisconsin Press, vol. 67(1), pages 64-73.
  10. Mark L. Plummer, 1986. "Supply Uncertainty, Option Price, and Option Value: An Extension," Land Economics, University of Wisconsin Press, vol. 62(3), pages 313-318.
  11. Edwards, Steven F., 1988. "Option prices for groundwater protection," Journal of Environmental Economics and Management, Elsevier, vol. 15(4), pages 475-487, December.
  12. Cameron, Trudy Ann, 1988. "A new paradigm for valuing non-market goods using referendum data: Maximum likelihood estimation by censored logistic regression," Journal of Environmental Economics and Management, Elsevier, vol. 15(3), pages 355-379, September.
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