000022924 001__ 22924
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000022924 0247_ $$2doi$$a10.22004/ag.econ.22924
000022924 037__ $$a429-2016-28879
000022924 037__ $$a429-2016-30233
000022924 041__ $$aeng
000022924 245__ $$aHEDONIC PRICING FOR A COST BENEFIT ANALYSIS OF A PUBLIC WATER SUPPLY SCHEME
000022924 260__ $$c1991-04
000022924 269__ $$a1991-04
000022924 300__ $$a20
000022924 336__ $$aJournal Article
000022924 520__ $$aDuring the 1950s and 1960s pipelines were built to provide water to many farms in the central wheatbelt of Western Australia using public funds. The resulting network has become known as the Comprehensive Water Supply Scheme. The expansion of the Scheme is currently under consideration. An ex ante cost benefit analysis of the proposed expansion is undertaken. An earlier analysis which focused on the benefits of the reduced necessity to cart water was rejected by farmer groups because of the inability of the analysis to properly account for domestic benefits and risk reduction. To overcome these criticisms a hedonic model of farm land values is formulated in which the independent variables are the characteristics of a property, including whether or not the property is connected to the Scheme. The implicit marginal price (or value) of Scheme connection is then derived. An advantage of this technique is that it estimates the value that the farmers allocate to Scheme water in the market place. The conclusion is that the benefits of Scheme water are considerably less than the costs.
000022924 546__ $$aEnglish
000022924 650__ $$aDemand and Price Analysis
000022924 700__ $$aCoelli, Tim J.
000022924 700__ $$aLloyd-Smith, J.
000022924 700__ $$aMorrison, D.
000022924 700__ $$aThomas, J.
000022924 773__ $$q1$$o20$$tAustralian Journal of Agricultural Economics$$j35$$k01$$dApril 1991
000022924 8564_ $$9362a0418-a51f-4013-8629-dcb9a52685b0$$s966716$$uhttps://ageconsearch.umn.edu/record/22924/files/35010001.pdf
000022924 887__ $$ahttp://purl.umn.edu/22924
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  Previous issue date: 1991-04
000022924 980__ $$a429
000022924 982__ $$gAustralian Journal of Agricultural Economics>Volume 35, Number 01, April 1991