Public Funding of Environmental Amenities: Contingent Choices Using New Taxes or Existing Revenues for Coastal Land Conservation
Alternative funding approaches affect stated preferences. An individual’s willingness to reallocate existing tax dollars exceeds willingness to pay new taxes to conserve land. However, stated preferences also imply a non-zero opportunity cost to existing tax dollars; different income groups reveal statistically equivalent marginal utilities both for income and for reallocating tax dollars. Yet individuals with lower income show a relatively larger increase in their willingness to support land conservation, when the choice shifts from new taxes to reallocation of existing tax dollars. The paper encourages consideration of equity implications that may be obscured when analysts focus on willingness to pay.
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- Kline, Jeffrey & Wichelns, Dennis, 1998. "Measuring heterogeneous preferences for preserving farmland and open space," Ecological Economics, Elsevier, vol. 26(2), pages 211-224, August.
- Wiktor Adamowicz & Peter Boxall & Michael Williams & Jordan Louviere, 1998. "Stated Preference Approaches for Measuring Passive Use Values: Choice Experiments and Contingent Valuation," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 80(1), pages 64-75.
- Jean-Jacques Laffont, 1988. "Fundamentals of Public Economics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262121271, June.
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- Krutilla, John V., 1981. "Reflections of an applied welfare economist : Presidential Address Presented at the Annual Meeting of the Association of Environmental and Resource Economists September 6, 1980, Denver, Colorado," Journal of Environmental Economics and Management, Elsevier, vol. 8(1), pages 1-10, March.
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