IDEAS home Printed from https://ideas.repec.org/p/ags/nddaer/23406.html
   My bibliography  Save this paper

Economic Valuation Of Some Wetland Outputs Of Mud Lake, Minnesota-South Dakota

Author

Listed:
  • Roberts, Lisa A.
  • Leitch, Jay A.

Abstract

The objective of this study was to estimate some economic values of Mud Lake, a managed, lacustrine wetland on the Minnesota-South Dakota border. Several outputs of Mud Lake were identified and an economic value was estimated for each. Flood control was valued at approximately $440 per acre, based on dollar damages prevented; water supply, using public utility revenues, was valued at $94 per acre; fish/wildlife habitat, recreation, and aesthetics were valued at about $21 per acre using the Contingent Valuation Method; and corrective expenditures were used to evaluate water quality at a negative per acre value of $180. When capitalized at 6 percent, the estimated total annual value of these four outputs is $6,250 per acre. These values can assist managers and policy makers in making decisions regarding the opportunity costs of Mud Lake management options or of wetland alterations or preservation. These snapshot values of Mud Lake "at the margin" are estimated under the assumption that all other wetlands and water resources in the region are unchanged.

Suggested Citation

  • Roberts, Lisa A. & Leitch, Jay A., 1997. "Economic Valuation Of Some Wetland Outputs Of Mud Lake, Minnesota-South Dakota," Agricultural Economics Reports 23406, North Dakota State University, Department of Agribusiness and Applied Economics.
    • Handle: RePEc:ags:nddaer:23406
    DOI: 10.22004/ag.econ.23406
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/23406/files/aer381.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.23406?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Batie, Sandra S. & Wilson, James R., 1978. "Economic Values Attributable To Virginia'S Coastal Wetlands As Input In Oyster Production," Southern Journal of Agricultural Economics, Southern Agricultural Economics Association, vol. 10(1), pages 1-8, July.
    2. Batie, Sandra S. & Wilson, James R., 1978. "Economic Values Attributable to Virginia's Coastal Wetlands as Inputs in Oyster Production," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 10(1), pages 111-118, July.
    3. Peter Abelson, 1996. "Project Appraisal and Valuation of the Environment," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-37474-4.
    4. Lynne, Gary D. & Conroy, Patricia & Prochaska, Frederick J., 1981. "Economic valuation of marsh areas for marine production processes," Journal of Environmental Economics and Management, Elsevier, vol. 8(2), pages 175-186, June.
    5. Leonard Shabman & Michael K. Bertelson, 1979. "The Use of Development Value Estimates for Coastal Wetland Permit Decisions," Land Economics, University of Wisconsin Press, vol. 54(2), pages 213-222.
    6. Tirath R. Gupta & John H. Foster, 1975. "Economic Criteria for Freshwater Wetland Policy in Massachusetts," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 57(1), pages 40-45.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Robert J. Johnston & Elena Y. Besedin & Benedict M. Holland, 2019. "Modeling Distance Decay Within Valuation Meta-Analysis," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 72(3), pages 657-690, March.
    2. Klaus Moeltner & Richard Woodward, 2009. "Meta-Functional Benefit Transfer for Wetland Valuation: Making the Most of Small Samples," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 42(1), pages 89-108, January.
    3. Khakbazan, Mohammad & Hamilton, C. & Yarotski, J., 2013. "The Effect of Land Management Changes and Nutrient Runoff Capture on Water Quality and Farm and Watershed Economics," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 150215, Agricultural and Applied Economics Association.
    4. Mallory, Mindy L. & Ando, Amy W., 2014. "Implementing efficient conservation portfolio design," Resource and Energy Economics, Elsevier, vol. 38(C), pages 1-18.
    5. Kaitlin E. Kelly & Ken Belcher & Mohammad Khakbazan, 2018. "Economic Targeting of Agricultural Beneficial Management Practices to Address Phosphorus Runoff in Manitoba," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 66(1), pages 143-166, March.
    6. Khatri-Chhetri, Arun & Collins, Alan R., 2011. "Estimation of a Surface Water Quality Valuation Index for the Appalachian Region," 2011 Annual Meeting, July 24-26, 2011, Pittsburgh, Pennsylvania 103653, Agricultural and Applied Economics Association.
    7. Shultz, Steve & Leitch, Jay, 2001. "The Infeasibility of Wetland Restoration to Reduce Flood Damage in the Red River Valley: Would the Inclusion of Non-Market Wetland Values Make a Difference?," Western Region Archives 321685, Western Region - Western Extension Directors Association (WEDA).
    8. Robert J. Johnston & Elena Y. Besedin & Richard Iovanna & Christopher J. Miller & Ryan F. Wardwell & Matthew H. Ranson, 2005. "Systematic Variation in Willingness to Pay for Aquatic Resource Improvements and Implications for Benefit Transfer: A Meta‐Analysis," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 53(2‐3), pages 221-248, June.
    9. Halkos, George, 2012. "Assessing the economic value of protecting artificial lakes," MPRA Paper 39557, University Library of Munich, Germany.
    10. Poudel, Rajendra & Collins, Alan & Gazal, Kathryn & Wang, Jingxin, 2020. "Benefit transfer estimation of willingness-to-pay for U.S. wetlands conservation," Forest Policy and Economics, Elsevier, vol. 115(C).
    11. Ingraham, Molly W. & Foster, Shonda Gilliland, 2008. "The value of ecosystem services provided by the U.S. National Wildlife Refuge System in the contiguous U.S," Ecological Economics, Elsevier, vol. 67(4), pages 608-618, November.
    12. Robert J. Johnston & Elena Y. Besedin & Ryan Stapler, 2017. "Enhanced Geospatial Validity for Meta-analysis and Environmental Benefit Transfer: An Application to Water Quality Improvements," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 68(2), pages 343-375, October.
    13. Johnston, Robert J. & Besedin, Elena Y. & Ranson, Matthew H., 2006. "Characterizing the effects of valuation methodology in function-based benefits transfer," Ecological Economics, Elsevier, vol. 60(2), pages 407-419, December.
    14. Brethour, Cher & Mussell, Al & Stiefelmeyer, Kate, 2001. "Retiring Marginally Profitable Sections Of Agricultural Fields In Ontario Economically Justified: Case Studies Of Typical Fields In Ontario, Final Report," Miscellaneous Publications 18119, George Morris Center.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Edward B. Barbier & Angela Cindy Emefa Mensah & Michelan Wilson, 2023. "Valuing the Environment as Input, Ecosystem Services and Developing Countries," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 84(3), pages 677-694, March.
    2. Dietrich Earnhart, 2001. "Combining Revealed and Stated Preference Methods to Value Environmental Amenities at Residential Locations," Land Economics, University of Wisconsin Press, vol. 77(1), pages 12-29.
    3. Edward Barbier & Ivar Strand, 1998. "Valuing Mangrove-Fishery Linkages – A Case Study of Campeche, Mexico," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 12(2), pages 151-166, September.
    4. Matsushita, Kyohei & Hori, Masakazu & Yamane, Fumihiro & Asano, Kota, 2023. "Incorporating traditional ecological knowledge into holistic watershed management: Fishery forests in Japan," Ecological Economics, Elsevier, vol. 204(PA).
    5. Shabman, Leonard A. & Batie, Sandra S. & Mabbs-Zeno, Carl C., 1979. "The Economics Of Wetlands Preservation In Virginia," Journal of the Northeastern Agricultural Economics Council, Northeastern Agricultural and Resource Economics Association, vol. 8(2), pages 1-16, October.
    6. Bockstael, N. & Costanza, R. & Strand, I. & Boynton, W. & Bell, K. & Wainger, L., 1995. "Ecological economic modeling and valuation of ecosystems," Ecological Economics, Elsevier, vol. 14(2), pages 143-159, August.
    7. Kroetz, Kailin & Kuwayama, Yusuke & Vexler, Caroline, 2019. "What is a Fish Out of Water? The Economics Behind the Joint Management of Water Resources and Aquatic Species in the United States," RFF Working Paper Series 19-09, Resources for the Future.
    8. Halkos, George, 2012. "Assessing the economic value of protecting artificial lakes," MPRA Paper 39557, University Library of Munich, Germany.
    9. Ingraham, Molly W. & Foster, Shonda Gilliland, 2008. "The value of ecosystem services provided by the U.S. National Wildlife Refuge System in the contiguous U.S," Ecological Economics, Elsevier, vol. 67(4), pages 608-618, November.
    10. Crase, Lin & Gillespie, Rob, 2006. "A Preliminary Consideration of Use and Non-Use Values Circumscribing the Lake Hume Water and Foreshore Management Plan," 2006 Conference (50th), February 8-10, 2006, Sydney, Australia 174471, Australian Agricultural and Resource Economics Society.
    11. Joaquín Delgado & Giovanni Wences, 2020. "A hedonic approach to the valuation of the effect of criminal violence on housing prices in Acapulco City," Empirical Economics, Springer, vol. 59(6), pages 2999-3018, December.
    12. Dietrich Earnhart, 2006. "Using Contingent-Pricing Analysis to Value Open Space and Its Duration at Residential Locations," Land Economics, University of Wisconsin Press, vol. 82(1), pages 17-35.
    13. Mykoniatis, Nikolaos & Ready, Richard, 2013. "Evaluating habitat-fishery interactions: The case of Submerged Aquatic Vegetation and Blue Crab fishery in the Chesapeake Bay," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 150683, Agricultural and Applied Economics Association.
    14. Simonit, Silvio & Perrings, Charles, 2011. "Sustainability and the value of the 'regulating' services: Wetlands and water quality in Lake Victoria," Ecological Economics, Elsevier, vol. 70(6), pages 1189-1199, April.
    15. Vincenzo Del Giudice & Pierfrancesco De Paola & Benedetto Manganelli & Fabiana Forte, 2017. "The Monetary Valuation of Environmental Externalities through the Analysis of Real Estate Prices," Sustainability, MDPI, vol. 9(2), pages 1-16, February.
    16. Juan de Dios Ortúzar & Luis A Cifuentes & Huw C W L Williams, 2000. "Application of Willingness-to-Pay Methods to Value Transport Externalities in Less Developed Countries," Environment and Planning A, , vol. 32(11), pages 2007-2018, November.
    17. Hearne, Robert R., 1996. "A Review of Economic Appraisal of Environmental Goods and Services: With a Focus on Developing Countries," Discussion Papers 24144, International Institute for Environment and Development, Environmental Economics Programme.
    18. Fulford, Richard & Yoskowitz, David & Russell, Marc & Dantin, Darrin & Rogers, John, 2016. "Habitat and recreational fishing opportunity in Tampa Bay: Linking ecological and ecosystem services to human beneficiaries," Ecosystem Services, Elsevier, vol. 17(C), pages 64-74.
    19. Woodward, Richard T. & Wui, Yong-Suhk, 2001. "The economic value of wetland services: a meta-analysis," Ecological Economics, Elsevier, vol. 37(2), pages 257-270, May.
    20. Remme, Roy P. & Edens, Bram & Schröter, Matthias & Hein, Lars, 2015. "Monetary accounting of ecosystem services: A test case for Limburg province, the Netherlands," Ecological Economics, Elsevier, vol. 112(C), pages 116-128.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:nddaer:23406. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/dandsus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.