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Value of Irrigation Water in the Middle Atlantic States: An Econometric Approach

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  • Madariaga, Bruce
  • McConnell, Kenneth E.

Abstract

Estimation of the economic value of irrigation water is complicated by a lack of data on the price or marginal cost of water. Through econometric estimation of an aggregate total value product function, this paper obtains marginal irrigation water value estimates for the Middle Atlantic region. Additionally, the impact of temperature and soil conditions on aggregate production within the region is estimated. Ridge regression and covariance analysis are employed to deal with problems of multicollinearity and simultaneous equation bias, respectively. Estimates indicate a substantial and growing return to irrigation within the region.

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  • Madariaga, Bruce & McConnell, Kenneth E., 1984. "Value of Irrigation Water in the Middle Atlantic States: An Econometric Approach," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 16(2), pages 91-98, December.
    • Handle: RePEc:cup:jagaec:v:16:y:1984:i:02:p:91-98_01
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    Cited by:

    1. Strand, Jon, 2010. "The full economic cost of groundwater extraction," Policy Research Working Paper Series 5494, The World Bank.
    2. Suarez, Federico & Fulginiti, Lilyan & Perrin, Richard, 2015. "The Value of Water in Agriculture: The U.S. High Plains Aquifer," 2015 Conference, August 9-14, 2015, Milan, Italy 211644, International Association of Agricultural Economists.

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