Managed Realignment for Flood Risk Reductions: What are the Drivers of Public Willingness to Pay?

Katherine Simpson () and Nick Hanley
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Katherine Simpson: Economics Division, University of Stirling
Authors registered in the RePEc Author Service: Katherine Needham

Discussion Papers in Environment and Development Economics from University of St. Andrews, School of Geography and Sustainable Development

Abstract: Offering several advantages over traditional “hold the line” flood defences, including the supply of ecosystem services such as carbon sequestration and habitat provision, managed realignment is increasingly being used as a flood defence option. This paper seeks to add to the growing literature on public perceptions of the benefits of managed realignment by examining local resident’s knowledge of estuarine management issues and identifying their willingness to pay (WTP) towards a new managed realignment scheme on the Tay Estuary, Scotland. Results showed that the majority of respondents were not aware of flood risk issues on the estuary or of different flood defence options. Furthermore a “miss-match” between flood risk perceptions was highlighted with respondents stating they were not at risk from flooding when in fact they lived in a flood risk zone. Household mean WTP for a specific managed realignment scheme was calculated as £43 per annum. Significant drivers of WTP included respondents perceived flood risk and worries about the state of existing flood defences. There was also significant spatial heterogeneity with those living closest to the scheme being WTP the most. Prior knowledge of flood risk issues and managed realignment was found not to significantly affect WTP.

Keywords: Contingent valuation; Information; Knowledge; Ecosystem Services; Flooding; Flood Risk (search for similar items in EconPapers)
JEL-codes: D83 Q51 Q57 (search for similar items in EconPapers)
Pages: 26 pages
Date: 2016-03
New Economics Papers: this item is included in nep-agr, nep-dcm and nep-env
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