Determining the economic value of water: concepts and methods

Determining the Economic Value of WaterValuing Ground WaterEcosystem ServicesA Method for Determining the Economic Value of Air Traffic Control Improvements and Application to All-weather Landing SystemsAntitrust Developments in Europe 2007The Validity of Economic Value Added as a Metric for Determining Intrinsic ValueHow Much is an Ecosystem Worth? Determining the Economic Value of WaterA Method for Determining the Economic Value of Air Traffic Control Improvements and Application to All-weather Landing SystemsDetermining the Economic Value of TrustDetermining Economic Value Added for Agricultural Co-operatives in South AfricaExploring the Economic Value of an MTL Course Via Determining Student NeedsThe Economic Value of Reliability in Deregulated Electricity MarketsAssessing the Economic Value of Ecosystem ConservationDetermining the Economic Value of Dairy Cattle CharateristicsTreatment of Poles in PlaceEstimating the Economic Value of Natural Coastal WetlandsDetermining the Socio-economic Value of GroundwaterDetermining the Economic Value of Pharmacist Services [microform] : a Study of the Reliability and Validity of Contingent Valuation MethodsA Method for Determining the Economic Value of Air Traffic Control Improvements and Application to All-weather Landing SystemsDetermining the Economic Value of Nuclear Power in SpainDetermining the Economic Value of Voluntary Work in Sports ClubsA Method for Determining the Economic Value of Air Traffic Control Improvements and Application to All-weather Landing SystemsA Method for Determining the Economic Value of Air Traffic Control Improvements and Application to All-weather Landing SystemsEconomic Value Added (EVA). Drivers and LeveragesDetermining the Economic Value of Aquatic Resources Within the Impact Area of Proposed Highway ConstructionEconomic Valuation of Water Resources in AgricultureThe Economic Value of Natural and Environmental ResourceDetermining the Value of Non-Marketed GoodsEconomic Value ManagementEconomic Valuation of Animal Genetic ResourcesThe Ethical Economy of Conflict Prevention And DevelopmentNBS Special PublicationDetermining the Socio-economic Value of GroundwaterDetermining Economic Value of Irrigation WaterDetermining the Economic Value of WaterA Treatise on the Economic Value of Man, Together with Rules for Determining His Economic Loss in Every Case of Injury Or DiseaseDetermining the Economic Value of WaterDetermining the Economic Value of Pharmacist ServicesDetermining the Economic Value of Water Water provides benefits as a commodity for agriculture, industry, and households, and as a public good such as fisheries habitat, water quality and recreational use. To aid in cost-benefit analysis under conditions where market determined price signals are usually unavailable, economists have developed a range of alternative valuation methods for measuring economic benefits. This volume provides the most comprehensive exposition to-date of the application of economic valuation methods to proposed water resources investments and policies. It provides a conceptual framework for valuation of both commodity and public good uses of water, addressing non-market valuation techniques appropriate to measuring public benefits including water quality improvement, recreation, and fish habitat enhancement. The book describes the various measurement methods, illustrates how they are applied in practice, and discusses their strengths, limitations, and appropriate roles. In this second edition, all chapters have been thoroughly updated, and in particular the coverage of water markets and valuation of ecosystem services from water has been expanded. Robert Young, author of the 2005 edition, has been joined for this new edition by John Loomis, who brings additional expertise on ecosystem services and the environmental economics of water for recreational and other public good uses of water. "The Economic Value Management" focuses on value management and the habits of value companies, as well as the processes they must undertake to be a value company. The book provides quantitative ways of determining whether a company's decision has added to its value with an understandable, practical and implementation-friendly approach to the subject.The importance of taking account of the total economic value of ecosystems is stressed and the possible reasons why the Millennium Ecosystem Assessment (2005) emphasised the importance of ecosystem services for biodiversity conservation is discussed. It is suggested that the Millennium Ecosystem Assessment does not give enough attention to the disservices association with some ecosystems nor to the comparisons of the value of alternative ecosystems. Reasons why it is important to estimate the total economic value of ecosystems are outlined. It is argued that the economic valuation of ecosystems is of little value unless it compares the economic value of alternative ecosystems or forms of land use. Most published economic valuations of ecosystems fail to do this or only do it to a very limited extent. The cost of replacing ecosystem services if an ecosystem is lost is sometimes used to value its services. In most cases (but not all cases), this tends to over value the loss. This is illustrated using some simple graphs. There is also the further complication that if one type of ecosystem is replaced by another form of land or aquatic use, some ecosystem services may continue to be supplied, possibly in reduced quantities or qualities. In such cases, assuming that the pre-existing services are totally lost and need to be replaced completely overstates the economic value lost, or in other words, the value of retaining an existing ecosystem.The purpose of this report is to produce a review on water resource valuation issues and techniques specifically for the appraisal and negotiation of raw (as opposed to bulk or retail) water resource allocation for agricultural development projects. The review considers raw water in naturally occurring watercourses, lakes, wetlands, soil and aquifers, taking an ecosystem function perspective at a catchment scale, and takes account of the demands from irrigated and rainfed agriculture. It is hoped that the review will have particular application to developing countries where agreed methods for reconciling competing uses are often absent, but nevertheless takes account of valuation approaches that have been made in post industrial economies.The Western Cape, a province of South Africa is facing increased pressure to develop new supplies of fresh water to cater for the regions rapidly growing demand. Groundwater is being explored as a possible contributor to the freshwater supply. Development of the resource has been slow despite the existence of significant potential groundwater resources in the form of several shallow primary aquifer systems and an extensive secondary aquifer formation known as the Table Mountain Group (TMG) Aquifer. This slow development may be attributed primarily to a lack of awareness amongst key stakeholders and general ignorance in the water market with regards to the potential of this resource. In the past decision making systems have focused on the value of groundwater as a resource in its own right. This has led to a significant spectrum of water values being excluded from the decision making process. Groundwater contributes to society in various ways both directly and indirectly, yet the indirect benefits are often overlooked. In addition, the fact that this subterranean resource is \02BBout of sight\02BB has contributed to a general lack of awareness amongst stakeholders with regards to the prevalence, function and general knowledge of the resource. This has resulted in less than adequate level of investment in groundwater resource development which in turn has contributed to an underestimation of the resources potential. The purpose of this study is to develop and apply a valuation model that can estimate the value of this resource from a demand sided approach so that the socio-economic factors that drive its value can be identified. It is also necessary to assess the levels of awareness and knowledge that exist with regard to groundwater resources. In addition it is necessary to measure the extent to which groundwater contributes to total societal consumption.Trust has been considered an integral part of maintaining any successful business relationship, and without trust, a business transaction would likely not occur. While trust has been a necessary component of these transactions, there remains to be minimal research on if customers truly value trustworthiness in a sales representative. And if customers do indeed value a trusted relationship, little is known how sales representatives can best enhance these trusted relationships. The primary objective of this research was twofold; first the economic value of trust and its components was estimated in a loan officer and farmer relationship, and second, was identifying the most effective ways that loan officers or sales representatives can increase their own trustworthiness with farmers. An online survey distributed to Kansas farmers was composed of three main components; general trust section, a best-worst simulation, and a choice experiment section. The general trust section motivated respondents to think about their perceptions of trustworthiness. In a best-worst simulation, respondents indicated which statements most and least represented the four trust components. The last section prompted respondents to report the trust score of their current loan officer and ranked that loan officer against hypothetical loan officers. Using a rank-ordered logit, the willingness to pay (WTP) estimates were calculated, giving insight to the most valued components of trust. Results from the choice experiment show that farmers greatly value self-orientation far above the other three trust components. On average, farmers are willing