IDEAS home Printed from https://ideas.repec.org/a/spr/waterr/v26y2012i1p147-164.html
   My bibliography  Save this article

The Lost Value of Groundwater: The Case of Asopos River Basin in Central Greece

Author

Listed:
  • Georgios Tentes
  • Dimitrios Damigos

Abstract

Due to the unique nature of the environmental damage, mainly by Cr(VI), the pollution of the Asopos river basin aquifer in Greece has been recently characterized as an ‘environmental crisis’. This paper presents the results of the first attempt in Greece to value the environmental damage to groundwater and to estimate its total economic value using environmental economics. Towards this direction a Contingent Valuation study was conducted, covering the settlements mostly affected in the area. The results indicate that local households are willing to pay an extra monthly charge in voluntary basis for ten years, in order to restore the aquifer under investigation. Different household profiles show different willingness to pay, depending on attitudes against the environmental damage, population age and place of residence. The elicited estimates seem to reflect mostly non-use values and, although smaller than actual private and public expenses for the replacement of the lost public good, the findings are promising and may serve as a spark for future research. Copyright Springer Science+Business Media B.V. 2012

Suggested Citation

  • Georgios Tentes & Dimitrios Damigos, 2012. "The Lost Value of Groundwater: The Case of Asopos River Basin in Central Greece," Water Resources Management: An International Journal, Published for the European Water Resources Association (EWRA), Springer;European Water Resources Association (EWRA), vol. 26(1), pages 147-164, January.
    • Handle: RePEc:spr:waterr:v:26:y:2012:i:1:p:147-164
    DOI: 10.1007/s11269-011-9910-2
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1007/s11269-011-9910-2
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1007/s11269-011-9910-2?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Pemberton, Carlisle A. & Harris-Charles, Emaline & Patterson-Andrews, Hazel, 2010. "Cultural bias in contingent valuation of copper mining in the Commonwealth of Dominica," Ecological Economics, Elsevier, vol. 70(1), pages 19-23, November.
    2. Ekin Birol & Katia Karousakis & Phoebe Koundouri, 2006. "Using economic valuation techniques to inform water resources management: A survey and critical appraisal of available techniques and an application," DEOS Working Papers 0607, Athens University of Economics and Business.
    3. M. Genius & E. Hatzaki & E. Kouromichelaki & G. Kouvakis & S. Nikiforaki & K. Tsagarakis, 2008. "Evaluating Consumers’ Willingness to Pay for Improved Potable Water Quality and Quantity," Water Resources Management: An International Journal, Published for the European Water Resources Association (EWRA), Springer;European Water Resources Association (EWRA), vol. 22(12), pages 1825-1834, December.
    4. David J. Bjornstad & James R. Kahn (ed.), 1996. "The Contingent Valuation of Environmental Resources," Books, Edward Elgar Publishing, number 731.
    5. Aminou Arouna & Stephan Dabbert, 2010. "Determinants of Domestic Water Use by Rural Households Without Access to Private Improved Water Sources in Benin: A Seemingly Unrelated Tobit Approach," Water Resources Management: An International Journal, Published for the European Water Resources Association (EWRA), Springer;European Water Resources Association (EWRA), vol. 24(7), pages 1381-1398, May.
    6. Richard T. Carson & Nicholas E. Flores & Kerry M. Martin & Jennifer L. Wright, 1996. "Contingent Valuation and Revealed Preference Methodologies: Comparing the Estimates for Quasi-Public Goods," Land Economics, University of Wisconsin Press, vol. 72(1), pages 80-99.
    7. Peter A. Diamond & Jerry A. Hausman, 1994. "Contingent Valuation: Is Some Number Better than No Number?," Journal of Economic Perspectives, American Economic Association, vol. 8(4), pages 45-64, Fall.
    8. John, Kun H. & Walsh, Richard G. & Moore, Chester G., 1992. "Comparison of alternative nonmarket valuation methods for an economic assessment of a public program," Ecological Economics, Elsevier, vol. 5(2), pages 179-196, May.
    9. Areti Kontogianni & Ian Langford & Andreas Papandreou & Mihalis Skourtos, 2003. "Social Preferences for Improving Water Quality: An Economic Analysis of Benefits from Wastewater Treatment," Water Resources Management: An International Journal, Published for the European Water Resources Association (EWRA), Springer;European Water Resources Association (EWRA), vol. 17(5), pages 317-336, October.
    10. Paula Carreira & José Marques & António Pina & António Mota Gomes & Paula Galego Fernandes & Fernando Monteiro Santos, 2010. "Groundwater Assessment at Santiago Island (Cabo Verde): A Multidisciplinary Approach to a Recurring Source of Water Supply," Water Resources Management: An International Journal, Published for the European Water Resources Association (EWRA), Springer;European Water Resources Association (EWRA), vol. 24(6), pages 1139-1159, April.
    11. Jones, Nikoleta & Sophoulis, Costas M. & Malesios, Chrisovaladis, 2008. "Economic valuation of coastal water quality and protest responses: A case study in Mitilini, Greece," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(6), pages 2478-2491, December.
    12. Salman, Amer Zahi & Al-Karablieh, Emad, 2004. "Measuring the willingness of farmers to pay for groundwater in the highland areas of Jordan," Agricultural Water Management, Elsevier, vol. 68(1), pages 61-76, July.
    13. Menegaki, Angeliki N. & Hanley, Nick & Tsagarakis, Konstantinos P., 2007. "The social acceptability and valuation of recycled water in Crete: A study of consumers' and farmers' attitudes," Ecological Economics, Elsevier, vol. 62(1), pages 7-18, April.
    14. Yoshiaki Kaoru, 1993. "Differentiating use and nonuse values for coastal pond water quality improvements," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 3(5), pages 487-494, October.
    15. K.G. Willis & N.A. Powe & G.D. Garrod, 2005. "Estimating the Value of Improved Street Lighting: A Factor Analytical Discrete Choice Approach," Urban Studies, Urban Studies Journal Limited, vol. 42(12), pages 2289-2303, November.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. West, Grant H. & Snell, Heather & Kovacs, Kent & Nayga, Rodolfo M., 2020. "Estimation of the preferences for the intertemporal services from groundwater," 2020 Annual Meeting, July 26-28, Kansas City, Missouri 304220, Agricultural and Applied Economics Association.
    2. Cook, David & Davíðsdóttir, Brynhildur & Kristófersson, Daði Már, 2016. "Energy projects in Iceland – Advancing the case for the use of economic valuation techniques to evaluate environmental impacts," Energy Policy, Elsevier, vol. 94(C), pages 104-113.
    3. J.-D. Rinaudo & S. Aulong, 2014. "Defining Groundwater Remediation Objectives with Cost-benefit Analysis: Does It Work?," Water Resources Management: An International Journal, Published for the European Water Resources Association (EWRA), Springer;European Water Resources Association (EWRA), vol. 28(1), pages 261-278, January.
    4. V. Kanakoudis & S. Tsitsifli & T. Azariadi, 2015. "Overview of the River Basin Management Plans Developed in Greece Under the Context of the Water Framework Directive 2000/60/EC Focusing on the Economic Analysis," Water Resources Management: An International Journal, Published for the European Water Resources Association (EWRA), Springer;European Water Resources Association (EWRA), vol. 29(9), pages 3149-3174, July.
    5. Won-Seok Lee & Seung-Hoon Yoo & Jeehyeong Kim, 2013. "Measuring the Economic Benefits of the Tap Water Supply Service in Urban Areas: The Case of Korea," Water Resources Management: An International Journal, Published for the European Water Resources Association (EWRA), Springer;European Water Resources Association (EWRA), vol. 27(2), pages 619-627, January.
    6. Cook, David & Davíðsdóttir, Brynhildur & Kristófersson, Daði Már, 2018. "Willingness to pay for the preservation of geothermal areas in Iceland – The contingent valuation studies of Eldvörp and Hverahlíð," Renewable Energy, Elsevier, vol. 116(PA), pages 97-108.
    7. Kountouris, Yiannis & Nakic, Zoran & Sauer, Johannes, 2015. "Political instability and non-market valuation: Evidence from Croatia," Resource and Energy Economics, Elsevier, vol. 41(C), pages 19-39.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Halkos, George E. & Jones, Nikoleta, 2012. "Modeling the effect of social factors on improving biodiversity protection," Ecological Economics, Elsevier, vol. 78(C), pages 90-99.
    2. Carson, Richard T. & Hanemann, W. Michael & Kopp, Raymond J. & Krosnick, Jon A. & Mitchell, Robert C. & Presser, Stanley & Ruud, Paul A. & Smith, V. Kerry & Conaway, Michael & Martin, Kerry, 1996. "Was the NOAA Panel Correct about Contingent Valuation?," Discussion Papers 10503, Resources for the Future.
    3. Veisten, Knut, 2007. "Contingent valuation controversies: Philosophic debates about economic theory," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 36(2), pages 204-232, April.
    4. Massarutto, Antonio & Roder, G. & Troiano, S., 2022. "Better safe than sorry? Stated preferences and the precautionary principle for securing drinking water quality in an Italian district," Utilities Policy, Elsevier, vol. 76(C).
    5. Ojea, Elena & Loureiro, Maria L., 2011. "Identifying the scope effect on a meta-analysis of biodiversity valuation studies," Resource and Energy Economics, Elsevier, vol. 33(3), pages 706-724, September.
    6. George Halkos & Aikaterini Leonti & Eleni Sardianou, 2020. "Assessing the Preservation of Parks and Natural Protected Areas: A Review of Contingent Valuation Studies," Sustainability, MDPI, vol. 12(11), pages 1-24, June.
    7. Polyzou, E. & Jones, N. & Evangelinos, K.I. & Halvadakis, C.P., 2011. "Willingness to pay for drinking water quality improvement and the influence of social capital," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 40(1), pages 74-80, February.
    8. Roberto Ponce & Felipe Vásquez & Alejandra Stehr & Patrick Debels & Carlos Orihuela, 2011. "Estimating the Economic Value of Landscape Losses Due to Flooding by Hydropower Plants in the Chilean Patagonia," Water Resources Management: An International Journal, Published for the European Water Resources Association (EWRA), Springer;European Water Resources Association (EWRA), vol. 25(10), pages 2449-2466, August.
    9. Veronesi, Marcella & Chawla, Fabienne & Maurer, Max & Lienert, Judit, 2014. "Climate change and the willingness to pay to reduce ecological and health risks from wastewater flooding in urban centers and the environment," Ecological Economics, Elsevier, vol. 98(C), pages 1-10.
    10. Tisdell, Clem & Wilson, Clevo & Swarna Nantha, Hemanath, 2008. "Contingent valuation as a dynamic process," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(4), pages 1443-1458, August.
    11. Gregory Poe & Jeremy Clark & Daniel Rondeau & William Schulze, 2002. "Provision Point Mechanisms and Field Validity Tests of Contingent Valuation," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 23(1), pages 105-131, September.
    12. Richard Carson & Nicholas Flores & Norman Meade, 2001. "Contingent Valuation: Controversies and Evidence," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 19(2), pages 173-210, June.
    13. Richard T. Carson, 2011. "Contingent Valuation," Books, Edward Elgar Publishing, number 2489.
    14. Aadland, David & Caplan, Arthur J., 2003. "Cheap Talk Revisited: New Evidence From Cvm," 2003 Annual meeting, July 27-30, Montreal, Canada 22112, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    15. Loomis, John B. & Gonzalez-Caban, Armando, 1998. "A willingness-to-pay function for protecting acres of spotted owl habitat from fire," Ecological Economics, Elsevier, vol. 25(3), pages 315-322, June.
    16. Grösche, Peter & Schröder, Carsten, 2011. "Eliciting public support for greening the electricity mix using random parameter techniques," Energy Economics, Elsevier, vol. 33(2), pages 363-370, March.
    17. repec:ken:wpaper:0805 is not listed on IDEAS
    18. Ben Brahim-Neji, Hella & Ruiz-Villaverde, Alberto & González-Gómez, Francisco, 2014. "Decision aid supports for evaluating agricultural water reuse practices in Tunisia: The Cebala perimeter," Agricultural Water Management, Elsevier, vol. 143(C), pages 113-121.
    19. Bruno Lanz & Allan Provins, 2012. "Do status quo choices reflect preferences? Evidence from a discrete choice experiment in the context of water utilities' investment planning," CEPE Working paper series 12-87, CEPE Center for Energy Policy and Economics, ETH Zurich.
    20. Aadland, David & Caplan, Arthur J., 2006. "Cheap talk reconsidered: New evidence from CVM," Journal of Economic Behavior & Organization, Elsevier, vol. 60(4), pages 562-578, August.
    21. Bruno S. Frey & Simon Luechinger, 2005. "Measuring terrorism," Chapters, in: Alain Marciano & Jean-Michel Josselin (ed.), Law and the State, chapter 6, Edward Elgar Publishing.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:waterr:v:26:y:2012:i:1:p:147-164. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.