Econ Papers Daily / 期刊论文
利用显示性偏好数据评估安大略省地方水质价值
Valuing local water quality in Ontario using revealed preference data
摘要
Improving water quality is an important goal for policymakers, yet understanding the economic benefits people receive from changes in water quality is challenging because many of the benefits are non‐market in nature. We use spatially explicit lake Secchi disk depth measures and information on over 320,000 property sales to provide the most extensive revealed preference value estimates of water clarity improvements in Canada. We find that a 10% increase in water clarity (as measured by Secchi disk depth) appreciates nearby property values by 0.56%. We do not find evidence for higher price premiums for properties located within 0–250 m of a lake compared to 250–500 m. The findings remain consistent when employing property fixed‐effect models and a series of alternative model specifications. A 10% improvement in lake water clarity in southern Ontario is estimated to yield a total benefit of $2 billion across properties with an aggregate property value of $359 billion, translating to an average benefit of $151 per household. The increase in property values could provide $31 million in additional annual municipal tax revenue to fund water quality improvement initiatives.
中文摘要
改善水质是政策制定者的重要目标，但理解人们从水质变化中获得的经济收益具有挑战性，因为许多收益本质上属于非市场收益。我们利用空间明确的湖泊塞氏盘深度测量数据以及超过32万宗房产销售信息，提供了加拿大迄今为止最广泛的关于水体清澈度改善的显示性偏好价值估计。我们发现，水体清澈度提高10%（以塞氏盘深度衡量）会使附近房产价值上升0.56%。我们未发现距湖泊0–250米范围内的房产相比250–500米范围内的房产存在更高价格溢价的证据。当采用房产固定效应模型及一系列替代模型设定时，这些发现仍然稳健。据估计，安大略省南部湖泊水体清澈度提高10%，将在总房产价值达3590亿美元的房产中产生20亿美元的总收益，相当于每户平均收益151美元。房产价值的上升可为水质改善倡议提供3100万美元的额外年度市政税收收入。