Title

Intertemporal Valuation of River Restoration

Document Type

Article

Publication Date

2013

Publication Title

Environmental and Resource Economics

Volume Number

54

Issue Number

1

DOI

10.1007/s10640-012-9580-4

Abstract

Willingness to pay for an environmental improvement is a function of how long it takes to deliver the improvement. To measure the effect of time on benefits, I utilize a discrete choice experiment that includes an attribute for delay until the improvement occurs and simultaneously estimate discount rates and valuation parameters. I estimate the present value of immediate and delayed Minnesota River Basin improvements using discount rates directly estimated from the econometric model. Compared to an immediate river basin cleanup, Minnesota residents lose almost half of the benefits when cleanup is delayed by 5 years.

ISSN

0924-6460

First Page

41

Last Page

61

Link Out URL

https://doi.org/10.1007/s10640-012-9580-4

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