Access the full text.
Sign up today, get DeepDyve free for 14 days.
Loading next page...
/lp/wiley/valuing-options-for-reserve-water-in-the-fitzroy-basin-aauqn0c7XW
References (48)
-
J. Chavas, D. Mullarkey (2002)
On the Valuation of Uncertainty in Welfare AnalysisPSN: Social Choice & Welfare (Topic)
-
(2003)
Water Allocation and Management (Fitzroy Basin) Amendment Plan 2003 -
Mark Morrison (2000)
Aggregation Biases in Stated Preference Studies, 39
-
(2002)
Appendix Choice Models developed from survey results Full details and results have been reported for Survey -
(2002)
Tests of benefit transfer across sites and population in the Fitzroy Basin. Valuing Floodplain Development in the Fitzroy Basin -
(2002)
Windle Table 14 MNL models for Brisbane community in Survey Three -
Gregory Poe, Kelly Giraud, J. Loomis (2001)
Simple Computational Methods for Measuring the Difference of Empirical Distributions: Application to Internal and External Scope Tests in Contingent Valuation -
(1998)
Potential Economic Benefits from Additional Private Water Harvesting Development in Central Queensland -
I.H. Langford, A. Kontogianni, M.S. Skourtos, S. Georgiou, I.J. Bateman (1998)
Multivariate mixed models for open‐ended contingent valuation data – willingness to pay for conservation of monk sealsAustralian Journal of Agricultural and Resource Economics, 12
-
M. Morrison, R. Blamey, J. Bennett, J. Louviere (1997)
A Comparison of Stated Preference Techniques for Estimating Environmental Values -
Tracy Turner (2004)
The Measurement of Environmental and Resource ValuesJournal of Environmental Quality, 33
-
J. Bennett, R. Blamey (2001)
The choice modelling approach to environmental valuation -
J.P. Hoehn, A. Randall (1989)
Too many proposals pass benefit cost testEconomic Analysis and Policy, 79
-
J. Rolfe, J. Bennett, J. Louviere (2002)
Stated Values and Reminders of Substitute Goods: Testing for Framing Effects with Choice ModellingEnvironmental Economics
-
J. Hoehn (1991)
Valuing the Multidimensional Impacts of Environmental Policy: Theory and MethodsAmerican Journal of Agricultural Economics, 73
-
J. Windle, J. Rolfe (2003)
Valuing Aboriginal cultural heritage sites in Central QueenslandAustralian Archaeology, 56
-
A. Loch, J. Rolfe, J. Bennett (2002)
Valuing Floodplain Development in the Fitzroy BasinEcological Economics
-
(1999)
Water Allocation and Management Plan (Fitzroy Basin) 1999 (WAMP). Queensland Department of Natural Resources -
M. Morrison, J. Bennett (2000)
Choice Modelling, Non-Use Values and Benefit TransferEconomic Analysis and Policy, 30
-
(2003)
Industries, Land Use and Water Quality in the Great Barrier Reef Catchment -
J. Shogren, T. Crocker (1990)
Adaptation and the Option Value of Uncertain Environmental ResourcesEcological Economics, 2
-
(2003)
Reef Water Quality Protection Plan for Catchments Adjacent to the Great Barrier Reef World Heritage Area -
N. Hanley, R. Wright, V. Adamowicz (1998)
Using Choice Experiments to Value the EnvironmentEnvironmental and Resource Economics, 11
-
R. Walsh, J. Loomis, R. Gillman (1983)
Valuing option, existence, and bequest demands for wilderness.Land Economics, 59
-
A. Loch, J. Rolfe, J. Windle (2001)
Valuing Floodplain Development in the Fitzroy BasinLand Economics
-
(2001)
Using Focus Groups to Design Choice Modelling Valuation Frameworks for Floodplain Development, Valuing Floodplain Development in the Fitzroy Basin, Research report -
J.P. Hoehn (1991)
Valuing the multidimensional impacts of environmental policy: theory and methodsAustralian Economic Papers, 73
-
J. Hoehn, A. Randall (1989)
Too Many Proposals Pass the Benefit-Cost Test: ReplyThe American Economic Review, 81
-
R. Bishop (1982)
Option value: an exposition and extensionAmerican Journal of Agricultural Economics, 58
-
A.M. Freeman (2003)
The Measurement of Environmental and Resource Values. Theory and MethodsAmerican Economic Review
-
M.D. Morrison, J.W. Bennett (2000)
Choice modelling, non‐use values and benefit transferAustralian Archaeology, 30
-
(2002)
Natural Resource Management and the Protection of Aboriginal Cultural Heritage. Institute for Sustainable Regional Development, occasional paper 5/2002 -
I. Krinsky, A. Robb (1986)
On Approximating the Statistical Properties of ElasticitiesThe Review of Economics and Statistics, 68
-
R. Bishop (1982)
Option Value: An Exposition and ExtensionLand Economics, 58
-
B. Weisbrod (1964)
Collective-Consumption Services of Individual-Consumption GoodsERN: Allocative Efficiency; Cost-Benefit Analysis; Externalities (Topic)
-
(2004)
Assessing Values for Estuary Protection Using Different Payment Mechanisms in the Choice Modelling Technique -
I. Langford, A. Kontogianni, M. Skourtos, S. Georgiou, I. Bateman (1998)
Multivariate Mixed Models for Open-Ended Contingent Valuation Data: Willingness To Pay For Conservation of Monk SealsEnvironmental and Resource Economics, 12
-
I. Krinskey, A. Robb (1986)
On approximating the statistical properties of elasticitiesEcological Economics, 68
-
C. Sunstein (2004)
Cost‐Benefit Analysis and the Environment*Ethics, 115
-
J. Rolfe, J. Bennett (2003)
WTP and WTA in relation to irrigation development in the Fitzroy Basin, Queensland -
A. Loch, J. Rolfe, J. Bennett (2002)
Scale and Quantity Effects and Their Importance for Benefit Transfer of Natural Resource Values in the Fitzroy Basin, Research Report No. 5 -
J. Rolfe, J. Bennett, J. Louviere (2000)
Choice modelling and its potential application to tropical rainforest preservationEcological Economics, 35
-
(1999)
Water Allocation and Management Plan (Fitzroy Basin) 1999 (WAMP) -
Gregory Poe, Kelly Giraud, J. Loomis (2005)
Computational Methods for Measuring the Difference of Empirical DistributionsEconometric Modeling: Agriculture
-
N. Hanley, R. Wright, W. Adamowicz (1998)
Using choice experiments to value the environment: design issues, current experience, and future prospectsEnvironmental and Resource Economics, 3–4
-
J. Windle, J. Rolfe (2002b)
Natural Resource Management and the Protection of Aboriginal Cultural Heritage -
W. Adamowicz, P. Boxall, Michael Williams, J. Louviere (1998)
Stated Preference Approaches for Measuring Passive Use Values: Choice Experiments and Contingent ValuationEconometric Modeling: Agriculture
-
K. Arrow, A. Fisher (1974)
Environmental Preservation, Uncertainty, and IrreversibilityQuarterly Journal of Economics, 88
- Publisher
- Wiley
- Copyright
- Copyright © 2005 Wiley Subscription Services, Inc., A Wiley Company
- ISSN
- 1364-985X
- eISSN
- 1467-8489
- DOI
- 10.1111/j.1467-8489.2005.00265.x
- Publisher site
- See Article on Publisher Site
Abstract
Option values may be an important component of non‐use values when development options for environmental assets are considered. These are values that the community might hold for maintaining options to make future choices about allocating resources. However, option values are very difficult to define, at both theoretical and practical levels, and there has been a retreat over the past decade to the more inclusive concept of option prices. In the present paper, estimates of option values are reported for retaining unallocated water in reserve rather than using it for current development. The use of option values rather than option prices is justified on the basis that the focus is on non‐use values, and demand and supply uncertainties have been minimised. These values have been assessed through a series of nine choice modelling surveys that have been conducted over a 3‐year period in the Fitzroy River Basin in central Queensland. The results are then extrapolated to the case study areas within the basin to assess whether unallocated water should be held in reserve or used for development.
Journal
The Australian Journal of Agricultural Resource Economics – Wiley
Published: Mar 1, 2005
Keywords: ; ;