Environmental Economics

An Analytical Basis for Valuing Potential and Realized Groundwater Protection Benefits in the State of Wyoming

This study surveys and synthesizes the existing literature about the economic value of groundwater contamination episodes, giving particular attention to extant knowledge about behavioral responses to parameter perturbations. Literature omissions are identified and an alternative ex ante valuation framework that incorporates risk attitudes, self-protection opportunities, and the use of market insurance to shift income to undesirable states is developed and its properties are derived. Finally, an empirical means to implement this framework by means of contingent valuation and hedonic property pricing methods is outlined.

  • Keywords

    Subject:
    1. Benefits Analysis
    1. Benefits Analysis - Valuation
    1. Benefits Analysis - Valuation - Stated Preference
    1. Benefits Analysis - Valuation - Stated Preference - Contingent Valuation
    1. Benefits Analysis - Valuation - Revealed Preference
    1. Benefits Analysis - Valuation - Revealed Preference - Property Value
    1. Benefits Analysis - Valuation - Cost of Damages Avoided
    Environmental Media:
    b. Water
    b. Water - Groundwater
    Authors:
    Crocker, Thomas D.
    Forester, Bruce A.
    Shogren, Jason F.
    EPA Project Officer/ Manager:
    Carlin, Alan
    Geographic Area:
    Wyoming
    Study Purpose:
    Methodology Development & Evaluation
    Inventory Record #: EE-0250
  • Participating Organizations

    Research Organization:

    Wyoming, University of,
    Department of Economics
    Address:
    City: Laramie State: WY ZIP: 82071
    Phone: Fax:
    E-mail:
  • Report Details
    Type:
    Final
    Date:
    07/01/1988
    Number of Pages:
    86
    Comment:
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    Date Linked: 08/25/2017