@article{Coelli:22924,
      recid = {22924},
      author = {Coelli, Tim J. and Lloyd-Smith, J. and Morrison, D. and  Thomas, J.},
      title = {HEDONIC PRICING FOR A COST BENEFIT ANALYSIS OF A PUBLIC  WATER SUPPLY SCHEME},
      journal = {Australian Journal of Agricultural Economics},
      address = {1991-04},
      number = {429-2016-28879},
      pages = {20},
      year = {1991},
      abstract = {During the 1950s and 1960s pipelines were built to provide  water to many farms in the central wheatbelt of Western  Australia using public funds. The resulting network has  become known as the Comprehensive Water Supply Scheme. The  expansion of the Scheme is currently under consideration.  An ex ante cost benefit analysis of the proposed expansion  is undertaken. An earlier analysis which focused on the  benefits of the reduced necessity to cart water was  rejected by farmer groups because of the inability of the  analysis to properly account for domestic benefits and risk  reduction. To overcome these criticisms a hedonic model of  farm land values is formulated in which the independent  variables are the characteristics of a property, including  whether or not the property is connected to the Scheme. The  implicit marginal price (or value) of Scheme connection is  then derived. An advantage of this technique is that it  estimates the value that the farmers allocate to Scheme  water in the market place. The conclusion is that the  benefits of Scheme water are considerably less than the  costs.},
      url = {http://ageconsearch.umn.edu/record/22924},
      doi = {https://doi.org/10.22004/ag.econ.22924},
}