Community Valuations of Environmental Qality in Coastal Lakes: Lake Illawarra Case Study

Ann Hodgkinson () and Abbas Valadkhani ()
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Ann Hodgkinson: University of Wollongong, http://www.uow.edu.au/commerce/econ/who/UOW010540.html
Abbas Valadkhani: University of Wollongong, http://www.uow.edu.au/commerce/econ/who/UOW010500.html

Economics Working Papers from School of Economics, University of Wollongong, NSW, Australia

Abstract: This study illustrates how the hedonic pricing method can measure the value of environmental assets in an urban setting. A HPM valuation, utilising relatively easily accessible secondary data, and a semi-logarithmic regression form, is used. The value achieved was substantially greater than either expenditures to date or the actuarial valuation of Lake Illawarra. The study demonstrates the applicability of the technique and recommends its further development and use for this type of public decision-making. A range of other data was also generated that adds to the usefulness of this approach for general planning purposes.

Keywords: Hedonic pricing model; Environmental quality, evaluation; New South Wales (NSW); Australia (search for similar items in EconPapers)
JEL-codes: C21 D12 Q51 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-env
Date: 2009
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