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Valuing Water Rights in Douglas County, Oregon, Using the Hedonic Price Method 1
Author(s) -
Butsic Van,
Netusil Noelwah R.
Publication year - 2007
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.1752-1688.2007.00049.x
Subject(s) - acre , agricultural economics , willingness to pay , irrigation , value (mathematics) , range (aeronautics) , hedonic pricing , economics , environmental science , business , water resource management , agricultural science , mathematics , econometrics , statistics , engineering , microeconomics , ecology , biology , aerospace engineering
This paper uses the hedonic price method to estimate the value of an acre‐foot of irrigation water in Douglas County, Oregon. The analysis uses detailed information from 113 arms‐length transactions of farmland for 2000 and 2001. The estimated willingness‐to‐accept of $261 to sell an acre‐foot of irrigation water is consistent with other studies and recent transactions in the study area. Estimates for the value of leasing water are provided using a range of discount rates and leasing periods.