Economics & Business Faculty Work
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
Recommended Citation
Meyer, Andrew, "Intertemporal Valuation of River Restoration" (2013). Economics & Business Faculty Work. 12.
https://digitalcommons.owu.edu/econ_pubs/12
Link Out URL
https://doi.org/10.1007/s10640-012-9580-4