Estimating the Benefits of Groundwater Contamination Control

Estimating the Benefits of Groundwater Contamination Control

In this paper, a conceptual model for estimating option price for groundwater quality protection is developed, and the effects of subjective demand and supply uncertainty and other variables on option price are examined. A contingent valuation study to measure option price for groundwater quality pr...

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Bibliographic Details
Published in:Journal of agricultural and applied economics 1992-12, Vol.24 (2), p.63-71
Main Authors: Sun, Henglun, Bergstrom, John C., Dorfman, Jeffrey H.
Format: Article
Language:eng
Subjects:
contingent valuation
groundwater contamination
option price
uncertainty
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Summary:In this paper, a conceptual model for estimating option price for groundwater quality protection is developed, and the effects of subjective demand and supply uncertainty and other variables on option price are examined. A contingent valuation study to measure option price for groundwater quality protection was conducted in southwestern Georgia. Valuation results suggest that the monetary benefits to citizens of protecting groundwater supplies from agricultural chemical contamination are quite large.
ISSN:1074-0708
0081-3052
2056-7405
0081-3052