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The Value of Scientific Information on Climate Change: A Choice Experiment on Rokua esker, Finland

Author

Listed:
  • Phoebe Koundouri

    (Dept. of International and European Economic Studies, Athens University of Economics and Business)

  • Eva Kougea

    (Athens University of Economics and Business)

  • Marva Stithou

    (University of Stirling, UK)

  • Pertti Ala-Aho

    (University of Oulu, Department of Process and Environmental Engineering, Water Resources and Environmental Engineering Laboratory, P.O.Box 4300, 90014)

  • Riku Eskelinen

    (University of Oulu, Department of Process and Environmental Engineering, Water Resources and Environmental Engineering Laboratory, P.O.Box 4300, 90014)

  • Timo Karjalainen

    (Thule Institute, University of Oulu, P.O. Box 7300, 90014 University of Oulu, Finland)

  • Bjorn Klove

    (University of Oulu, Department of Process and Environmental Engineering, Water Resources and Environmental Engineering Laboratory, P.O.Box 4300, 90014)

  • Manuel Pulido-Velazquez

    (Research Institute of Water and Environmental Engineering (IIAMA), Universitat Polit.cnica de Valencia, Camino de Vera s/n, 46022 Valencia, Spain)

  • Kalle Reinikainen

    (Poyry Finland Oy, Tutkijantie 2 A-D, 90590 Oulu, Finland)

  • Pekka Rossi

    (University of Oulu, Department of Process and Environmental Engineering, Water Resources and Environmental Engineering Laboratory, P.O.Box 4300, 90014)

Abstract

This paper presents an application of the choice experiment method in order to provide estimates of economic values generated by water quantity improvements. More importantly, this is the first choice experiment study valuing scientific information and in particular scientific information on climate change. The case study of interest is Rokua in Northern Finland, a groundwater dependent ecosystem very sensitive to climate change and natural variability. The study deals with the uncertainty about the actual dynamics of the system and the effect of future climate change, by exploring whether the public values improved scientific information in a choice experiment context. Data are analysed using a nested multinomial logit model. Evidence from this study suggests that individuals are willing to pay for an increase in scientific research to better understand long-terms environmental changes and as a result policy should consider investing and supporting related research. Particularly, apart from water quantity and recreation, investment on scientific research appears to be a significant factor in the choice of a water management policy, demonstrating also a higher value compared to the other changes that management practices are going to bring.

Suggested Citation

  • Phoebe Koundouri & Eva Kougea & Marva Stithou & Pertti Ala-Aho & Riku Eskelinen & Timo Karjalainen & Bjorn Klove & Manuel Pulido-Velazquez & Kalle Reinikainen & Pekka Rossi, 2011. "The Value of Scientific Information on Climate Change: A Choice Experiment on Rokua esker, Finland," DEOS Working Papers 1132, Athens University of Economics and Business.
    • Handle: RePEc:aue:wpaper:1132
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    Cited by:

    1. Koundouri, Phoebe & Babalos, Vassilis & Stithou, Mavra & Anastasiou, Ioannis, 2011. "A Micro-Econometric Approach to Deriving Use and Non-Use Values of in-situ Groundwater: The Vosvozis Case Study, Greece," MPRA Paper 38266, University Library of Munich, Germany.
    2. Phoebe Koundouri & Osiel Gonzalez Davila, 2013. "The Use of Ecosystem Services Approach in Guiding Water Valuation and Management: Inland and Coastal Waters," DEOS Working Papers 1334, Athens University of Economics and Business.
    3. Koundouri, Phoebe & Chatzistamoulou, Nikos & Davila, González & Giannouli, Amerissa & Kourogenis, Nikolaos & Xepapadeas, Anastasios & Xepapadeas, Petros, 2021. "Open Access in Scientific Information: Sustainability Model and Business Plan for the Infrastructure and Organization of OpenAIRE," Journal of Benefit-Cost Analysis, Cambridge University Press, vol. 12(1), pages 170-198, April.

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