The Agricultural and Economic Value of Water

Christina Estela Brown, Sophia J. Tanner, R. Aaron Hrozencik and Benjamin M. Gramig

No 356606, Economic Information Bulletin from United States Department of Agriculture, Economic Research Service

Abstract: Water is an essential resource that sustains not only agriculture and human communities but also the natural environment. It provides a suite of ecosystem services, such as recreation and habitat for wildlife, that affect the well-being of the public. However, the use and allocation of water involve tradeoffs, especially in the context of competing demands and limited availability. This report presents a targeted review of the economics literature on the economic value of water for agriculture and environmental flows, leveraging both observed behavior and survey methods. It examines the economic implications of these tradeoffs, with a focus on environmental and resource economics, energy economics, and applied econometrics. The report also highlights the challenges and opportunities associated with measuring the economic value of water, including the complexity of the systems involved, the heterogeneity of preferences and behaviors, and the uncertainty of water availability.

Keywords: Environmental Economics and Policy; Land Economics/Use; Resource/Energy Economics and Policy (search for similar items in EconPapers)
Pages: 36
Date: 2025-04
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uersib:356606

DOI: 10.22004/ag.econ.356606

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