Economic valuation of riparian buffer and open space in a suburban watershed

Document Type

Article

Publication Date

12-1-2006

Abstract

This study evaluates the economic value of riparian buffers and open space in a suburban watershed through two nonmarket valuation methods. A contingent valuation survey was implemented in the Dardenne Creek watershed, a suburban watershed of the St. Louis metropolitan area in Missouri, to evaluate the residents' perceptions of and willingness to pay (WTP) for adopting riparian buffers and preserving farmland in a hypothetical real estate market. A hedonic pricing model based on actual sale prices of homes in the watershed was applied to estimate the market value of open space and other environmental conditions such as flood zone and stream proximity in the study area. The results showed that residents' WTP was consistent with the economic values of open space and proximity to streams embedded in existing home prices. Through a better understanding of residents' perceptions and values, riparian buffer and open space programs can be designed and promoted to achieve greater implementation success and environmental benefit. Journal of the American Water Resources Association (JAWRA) (Copyright © 2006).

Identifier

33846469920 (Scopus)

Publication Title

Journal of the American Water Resources Association

External Full Text Location

https://doi.org/10.1111/j.1752-1688.2006.tb06022.x

ISSN

1093474X

First Page

1583

Last Page

1596

Issue

6

Volume

42

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