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The Value of Scientific Information on Climate Change: A Choice Experiment on Rokua esker, Finland

Phoebe Koundouri (), Eva Kougea, Marva Stithou (), Pertti Ala-Aho, Riku Eskelinen, Timo Karjalainen, Bjorn Klove, Manuel Pulido-Velazquez, Kalle Reinikainen and Pekka Rossi
Additional contact information
Eva Kougea: Athens University of Economics and Business
Marva Stithou: University of Stirling, UK
Pertti Ala-Aho: University of Oulu, Department of Process and Environmental Engineering, Water Resources and Environmental Engineering Laboratory, P.O.Box 4300, 90014
Riku Eskelinen: University of Oulu, Department of Process and Environmental Engineering, Water Resources and Environmental Engineering Laboratory, P.O.Box 4300, 90014
Timo Karjalainen: Thule Institute, University of Oulu, P.O. Box 7300, 90014 University of Oulu, Finland
Bjorn Klove: University of Oulu, Department of Process and Environmental Engineering, Water Resources and Environmental Engineering Laboratory, P.O.Box 4300, 90014
Manuel Pulido-Velazquez: Research Institute of Water and Environmental Engineering (IIAMA), Universitat Polit.cnica de Valencia, Camino de Vera s/n, 46022 Valencia, Spain
Kalle Reinikainen: Poyry Finland Oy, Tutkijantie 2 A-D, 90590 Oulu, Finland
Pekka Rossi: University of Oulu, Department of Process and Environmental Engineering, Water Resources and Environmental Engineering Laboratory, P.O.Box 4300, 90014

No 1132, DEOS Working Papers from Athens University of Economics and Business

Abstract: This paper presents an application of the choice experiment method in order to provide estimates of economic values generated by water quantity improvements. More importantly, this is the first choice experiment study valuing scientific information and in particular scientific information on climate change. The case study of interest is Rokua in Northern Finland, a groundwater dependent ecosystem very sensitive to climate change and natural variability. The study deals with the uncertainty about the actual dynamics of the system and the effect of future climate change, by exploring whether the public values improved scientific information in a choice experiment context. Data are analysed using a nested multinomial logit model. Evidence from this study suggests that individuals are willing to pay for an increase in scientific research to better understand long-terms environmental changes and as a result policy should consider investing and supporting related research. Particularly, apart from water quantity and recreation, investment on scientific research appears to be a significant factor in the choice of a water management policy, demonstrating also a higher value compared to the other changes that management practices are going to bring.

Keywords: choice experiment method; nested logit model; willingness to pay; improved scientific information; groundwater management practices. (search for similar items in EconPapers)
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Working Paper: The Value of Scientific Information on Climate Change: A Choice Experiment on Rokua esker, Finland
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