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Valuation of Natural Resource Improvements in the Adirondacks

Author

Listed:
  • H. Spencer Banzhaf
  • Dallas Burtraw
  • David Evans
  • Alan Krupnick

Abstract

For 20 years acid rain in the Adirondack Park has been a central issue in the debate about clean air regulation. Based on a contingent valuation survey of New York residents, our study quantifies the total economic value of expected ecological improvements in the park from forthcoming policies. Our preferred estimates of the mean household willingness to pay range from $48 to $107 annually, which imply total statewide benefits ranging from $336 million to $749 million annually. Alternative assumptions about ecological changes yield benefits up to $1.1 billion. The instrument passes external scope, sensitivity to bid, and sample selection tests.

Suggested Citation

  • H. Spencer Banzhaf & Dallas Burtraw & David Evans & Alan Krupnick, 2006. "Valuation of Natural Resource Improvements in the Adirondacks," Land Economics, University of Wisconsin Press, vol. 82(3), pages 445-464.
  • Handle: RePEc:uwp:landec:v:82:y:2006:i:3:p:445-464
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    References listed on IDEAS

    as
    1. Dallas Burtraw & Alan Krupnick & Erin Mansur & David Austin & Deirdre Farrell, 1998. "Costs And Benefits Of Reducing Air Pollutants Related To Acid Rain," Contemporary Economic Policy, Western Economic Association International, vol. 16(4), pages 379-400, October.
    2. Laura O. Taylor & Ronald G. Cummings, 1999. "Unbiased Value Estimates for Environmental Goods: A Cheap Talk Design for the Contingent Valuation Method," American Economic Review, American Economic Association, vol. 89(3), pages 649-665, June.
    3. Cameron Trudy Ann & Quiggin John, 1994. "Estimation Using Contingent Valuation Data from a Dichotomous Choice with Follow-Up Questionnaire," Journal of Environmental Economics and Management, Elsevier, vol. 27(3), pages 218-234, November.
    4. Burtraw, Dallas & Palmer, Karen & Shih, Jhih-Shyang, 2005. "Reducing Emissions from the Electricity Sector: The Costs and Benefits Nationwide and for the Empire State," Discussion Papers dp-05-23, Resources For the Future.
    Full references (including those not matched with items on IDEAS)

    More about this item

    JEL classification:

    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects

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