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Valuing drinking water quality improvement using a Bayesian analysis of the multinomial probit model

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  • Chung-Ki Lee
  • Seung-Jun Kwak

Abstract

This article estimates a multinomial probit model structured according to the defensive expenditures for drinking water (DW) choice, using a Bayesian analysis with Gibbs sampling. We also approximate the nonmarginal benefit from discrete improvement in DW quality by calculating the willingness to pay for safe DW. The result shows that the average household of the Seoul Metropolitan Area in Korea is willing to pay 6048 Korean won (GBP 2.91) per month to obtain improved DW similar to boiled water in quality.

Suggested Citation

  • Chung-Ki Lee & Seung-Jun Kwak, 2007. "Valuing drinking water quality improvement using a Bayesian analysis of the multinomial probit model," Applied Economics Letters, Taylor & Francis Journals, vol. 14(4), pages 255-259.
    • Handle: RePEc:taf:apeclt:v:14:y:2007:i:4:p:255-259
    DOI: 10.1080/13504850500447299
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    Cited by:

    1. Bruno Lanz & Allan Provins, 2014. "The demand for tap water quality: Survey evidence on water hardness and aesthetic quality," CIES Research Paper series 23-2014, Centre for International Environmental Studies, The Graduate Institute.
    2. Vanaja, Shiuli, 2021. "Are People Making Correct Choices? Drivers of Water Source Choices in Rural Jharkhand, India," 2021 Conference, August 17-31, 2021, Virtual 315156, International Association of Agricultural Economists.
    3. Patrick Lloyd-Smith & Craig Schram & Wiktor Adamowicz & Diane Dupont, 2018. "Endogeneity of Risk Perceptions in Averting Behavior Models," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 69(2), pages 217-246, February.
    4. Veettil, Prakashan Chellattan & Speelman, Stijn & Frija, Aymen & Buysse, Jeroen & van Huylenbroeck, Guido, 2011. "Complementarity between water pricing, water rights and local water governance: A Bayesian analysis of choice behaviour of farmers in the Krishna river basin, India," Ecological Economics, Elsevier, vol. 70(10), pages 1756-1766, August.

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