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Girard  (p. 9-22)
Cooper (p. 23-32)
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Coulmas-Law (p.42-46)
Stasio (p. 47-56)
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JOURNAL OF APPLIED BUSINESS AND ECONOMICS

Property Owners’ Willingness to Pay for Water Quality Improvements:
Contingent Valuation Estimates in Two Central Minnesota Watersheds

Author(s): Patrick G. Welle, James B. Hodgson

Citation: Patrick G. Welle, James B. Hodgson, (2011) "Property Owners’ Willingness to Pay for Water Quality Improvements: Contingent Valuation Estimates in Two Central Minnesota Watersheds," Journal of Applied Business and Economics, Vol. 12, Iss. 1, pp. 81 - 94

Article Type: Research paper

Publisher: North American Business Press

Abstract:

Improved lake water quality yields environmental benefits that translate into economic benefits.
This study estimates the economic value of these benefits by assessing the willingness-to-pay
(WTP) of property owners for restoring lakes in two watersheds in Minnesota using the
contingent valuation method (CVM). Alternative models generated a range of WTP estimates,
with the means for one watershed clustered in the $200 to $300 range, while the other watershed
ranged from $11 to $17. Differences between lakeshore and non-lakeshore property ownership
patterns, recreational use, and other socio-economic and watershed characteristics were
significant influences on WTP.