Title

Intertemporal Valuation of River Restoration

Document Type

Article

Language

eng

Format of Original

21 p.

Publication Date

1-2013

Publisher

Springer

Source Publication

Environmental and Resource Economics

Source ISSN

0924-6460

Original Item ID

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.

Comments

Environmental and Resource Economics, Vol. 54, No. 1 (January 2013): 41-61. DOI.