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WTP and WTA in relation to irrigation development in the Fitzroy Basin, Queensland

Author

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  • Rolfe, John
  • Bennett, Jeffrey W.

Abstract

Estimates of the compensating surplus generated by changes in non-marketed environmental amenities can be estimated using stated preference valuation techniques. These are typically framed in terms of WTP tradeoffs, even if the situation of interest involves a property right vestment that calls for a WTA question. The differences created by the two questioning formats are explored in this paper using the results of two choice modelling applications. Both applications were framed on the potential for irrigation development and environmental losses in the Fitzroy River Basin, Central Queensland. The scenarios used in the applications differed only in that they used alternatively WTP and WTA questioning formats. The results indicate that robust models could not be constructed from either WTP- or WTA-based data sets when only two alternatives were used in the choice sets. In contrast, a strongly fitting model was derived from WTP-based data where three alternatives formed the choice sets.

Suggested Citation

  • Rolfe, John & Bennett, Jeffrey W., 2003. "WTP and WTA in relation to irrigation development in the Fitzroy Basin, Queensland," 2003 Conference (47th), February 12-14, 2003, Fremantle, Australia 58204, Australian Agricultural and Resource Economics Society.
    • Handle: RePEc:ags:aare03:58204
    DOI: 10.22004/ag.econ.58204
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    Cited by:

    1. Geoffrey N. Kerr & Basil M.H. Sharp, 2008. "Evaluating off-site environmental mitigation using choice modelling ," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 52(4), pages 381-399, December.
    2. John Rolfe & Jill Windle, 2005. "Valuing options for reserve water in the Fitzroy Basin," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 49(1), pages 91-114, March.
    3. Kerr, Geoffrey N. & Sharp, Basil M.H., 2008. "Evaluating off-site environmental mitigation using choice modelling," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 54(4), pages 1-19.
    4. Rolfe, John & Windle, Jill, 2005. "Valuing options for reserve water in the Fitzroy Basin," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 49(1), pages 1-24.
    5. Donaghy, Peter & Rolfe, John & Bennett, Jeffrey W., 2003. "Consumer demands for organic and genetically modified foods," 2003 Conference (47th), February 12-14, 2003, Fremantle, Australia 57862, Australian Agricultural and Resource Economics Society.

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    Keywords

    Research Methods/ Statistical Methods;

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