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Lumpy Heterogeneity in Groundwater Service Values and Time Preferences

Author

Listed:
  • Kent F. Kovacs
  • Heather Snell
  • Brandon R. McFadden
  • Rodolfo M. Nayga Jr.

Abstract

From a choice experiment about groundwater management, we consider time preferences and groundwater service values through sociodemographic characteristics using a model called the discounted latent class model. A policy-motivated latent class has a higher income, greater familiarity with an aquifer, and more concern for the risks that groundwater decline poses to people and the environment. A business-as-usual latent class has a conservative ideology. Exponential discounting is preferred, and the discount rate is larger for the policy group than the business-as-usual group. Other models we use include the discounted mixed logit model and the discounted logit-mixed logit model.

Suggested Citation

  • Kent F. Kovacs & Heather Snell & Brandon R. McFadden & Rodolfo M. Nayga Jr., 2025. "Lumpy Heterogeneity in Groundwater Service Values and Time Preferences," Land Economics, University of Wisconsin Press, vol. 101(1), pages 71-88.
    • Handle: RePEc:uwp:landec:v:101:y:2025:i:1:p:71-88
    Note: DOI: https://doi.org/10.3368/le.101.1.040524-0033
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    More about this item

    JEL classification:

    • Q25 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Water
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects

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