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Community Valuations of Environmental Quality in Coastal Lakes: Lake Illawarra Case Study *
Author(s) -
Hodgkinson Ann,
Valadkhani Abbas
Publication year - 2009
Publication title -
economic papers: a journal of applied economics and policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.245
H-Index - 19
eISSN - 1759-3441
pISSN - 0812-0439
DOI - 10.1111/j.1759-3441.2009.00019.x
Subject(s) - intertidal zone , environmental quality , water quality , quality (philosophy) , environmental planning , range (aeronautics) , value (mathematics) , environmental science , water body , environmental resource management , geography , environmental engineering , computer science , engineering , ecology , oceanography , geology , philosophy , epistemology , aerospace engineering , machine learning , biology
This is the first Australian study to apply the hedonic pricing method to value environmental quality of an urban water body. It demonstrates the technique using a case study of a degraded urban lake that is currently undergoing a programme of water quality restoration and foreshore improvements. The results show that the community places significant value on proximity to the lake and on waterfront location. A range of other data was also generated that adds to the usefulness of this approach for general planning purposes. It is suggested that this technique would be a useful tool to aid in the allocation of public funds among competing environmental improvement projects.