@article{Lipton:28603,
      recid = {28603},
      author = {Lipton, Douglas W.},
      title = {THE VALUE OF IMPROVED WATER QUALITY TO CHESAPEAKE BAY  BOATERS},
      address = {2003},
      number = {1667-2016-136192},
      series = {Working Paper WP 03-16},
      pages = {25},
      year = {2003},
      abstract = {As part of an economic survey of Maryland registered boat  owners, an open ended contingent valuation question was  posed regarding willingness to pay for an improvement in  water quality in Chesapeake Bay.  The boaters ranked their  perception of water quality on a scale of one to five, and  the payment was for an improvement of one unit.  Boaters  also indicated the type of concern poor water quality  raised, ranging from no concern to concern about long term  effects of exposure to toxic chemicals.  Median willingness  to pay for a one step improvement in water quality was  $17.50 per year and the mean was $63, with 38% expressing a  zero willingness-to-pay.   A tobit model was estimated to  determine what factors influenced willingness to pay  amounts.  Sailboaters and boats that were kept in the water  rather than trailered were willing to pay more for water  quality improvements.  Additionally, the lower the  individual ranked water quality and the greater concern for  the health effects from water quality, the more the  willingness to pay for a water quality improvement.  In  aggregate, Chesapeake Bay boaters in Maryland were willing  to pay approximately $7.3 million per year to achieve the  stated water quality improvement.  The present value of  this improvement, at a 5% discount rate is a $146 million.},
      url = {http://ageconsearch.umn.edu/record/28603},
      doi = {https://doi.org/10.22004/ag.econ.28603},
}