Estimating the Willingness-to-Pay for Water in Georgia
Abdelmoneim H. Elnagheeb and
Jeffrey Jordan ()
Journal of Agribusiness, 1997, vol. 15, issue 1, 18
In this paper, data from a 1992 telephone survey of Georgia residents were used to study people’s willingness-to-pay (WTP) for water as a commodity. A dichotomous contingent valuation method was employed to estimate the marginal scarcity rent of water. Results indicated that the average WTP was $15.10 above the current monthly water cost, or about 81 percent of current bills. The aggregate WTP for all of Georgia was estimated to be nearly $393 million, suggesting that water is underpriced.
Keywords: Agribusiness; Demand and Price Analysis; Environmental Economics and Policy (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:jloagb:90408
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