Willingness to pay for property and nonproperty flood hazard reduction benefits: an experiment using the contingent value survey method

The Water Resources Development Act of 1986 has increased attention to the ability of flood control benefit assessment methods to serve the joint need of assessing the economic and financial feasibility of a project. The Contingent Value Method is identified as an alternative flood control benefit assessment method. The findings of a case study to test the potential for the Contingent Value Method to be used in future flood control benefit assessment studies is presented. An empirical analysis of willingness to pay offers is conducted to determine the importance of property and nonproperty considerations in willingness to pay is also presented. The study findings suggest that landowners are willing to pay for the property effects and the effects of flood control on the community at large. The study findings do not support a relationship between willingness to pay for flood control and the landowner's level of anxiety over the prospect of future flooding. The findings do suggest that the contingent value method has the potential to be applied to flood control. Prior to any such application, however, several survey design and implementation issues need to be addressed.

Name thesis:degree_name

Ph. D.

Level thesis:degree_level

doctoral

Department dc:contributor.department

Agricultural Economics

Grantor dc:publisher

Virginia Polytechnic Institute and State University

Year dc:date.issued

1988

Author dc:creator

• Thunberg, Eric M.

Chair dc:contributor.committeechair

• Shabman, Leonard A.

Committee members dc:contributor.committeemember

• Stoevener, Herbert H.
• Johnson, Thomas G.
• Moser, David
• Kerns, Waldon R.

Statement dc:rights

• In Copyright

Licence dc:rights.uri

• http://rightsstatements.org/vocab/InC/1.0/

Language dc:language.iso

en_US

Handle dc:identifier.uri

http://hdl.handle.net/10919/87675

OAI identifier oai:identifier

oai:vtechworks.lib.vt.edu:10919/87675