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Applying NOAA Recommendation: A Contingent Valuation Study of Desirable Quality Water in Kolkata, India

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  • Chirodip Majumdar

    (Department of Economics, Barjora College, Bankura 722202)

  • Gautam Gupta

    (Department of Economics, Jadavpur University, Kolkata 700032, India)

Abstract

Contingent Valuation (CV) surveys ask the respondents about their monetary values for non-market goods contingent upon the creation of a hypothetical market and the means of payment. Though CV as a method to value non-market goods has gained acceptance over time, it has also raised various debates on its applicability to put a value on non-market goods. The review panel of National Oceanic and Atmospheric Administration (NOAA) has made several suggestions to make a CV survey more effective and reliable. The present study applies NOAA guideline to estimate ‘willingness to pay (WTP)’ for the desirable quality water supplied by a private operator. The study is based on a survey of 500 households in Kolkata, India. The average WTP expressed by the respondents is found to be Rs 59.68 and Rs 49.28 per month per household for the dichotomous choice and open-ended follow-up question respectively. This paper examines how well the study followed the practices suggested by NOAA panel.

Suggested Citation

  • Chirodip Majumdar & Gautam Gupta, 2006. "Applying NOAA Recommendation: A Contingent Valuation Study of Desirable Quality Water in Kolkata, India," Journal of Social and Economic Development, Institute for Social and Economic Change, Bangalore, vol. 8(1), pages 15-28, January-J.
    • Handle: RePEc:sch:journl:v:8:y:2006:i:1:p:15-28
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