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ASSESSING THE ECONOMIC BENEFITS OF GROUND WATER FOR ENVIRONMENTAL POLICY DECISIONS 1
Author(s) -
Bergstrom John C.,
Boyle Kevin J.,
Job Charles A.,
Kealy Mary
Publication year - 1996
Publication title -
jawra journal of the american water resources association
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.957
H-Index - 105
eISSN - 1752-1688
pISSN - 1093-474X
DOI - 10.1111/j.1752-1688.1996.tb03451.x
Subject(s) - valuation (finance) , groundwater , consistency (knowledge bases) , water resources , environmental economics , resource (disambiguation) , environmental resource management , environmental science , business , computer science , economics , engineering , finance , ecology , computer network , geotechnical engineering , artificial intelligence , biology
The full range of environmental and economic services of ground water need to be accounted for in policy decisions. Non‐recognition of these services imputes a lower value for the ground water resource in establishing policies. We describe a conceptual framework for identifying and measuring the economic value of groundwater. The valuation framework links changes in physical characteristics of ground water to services provided by ground water and the economic effects of changes in ground water services. In addition to the framework, we develop a general protocol to follow for assessing the benefits of ground water policies. Application of the protocol will aid in establishing structure and consistency across policy assessments and improve the accuracy and completeness of benefit estimates, avoid double‐counting problems, and eliminate duplication of ground water valuation efforts.