The authors acknowledge Professor Harry Clarke (the editor) and two anonymous referees whose constructive inputs and comments improved an earlier version of this article. The usual caveat applies.
Community Valuations of Environmental Quality in Coastal Lakes: Lake Illawarra Case Study*
Article first published online: 1 OCT 2009
© 2009 The Economic Society of Australia
Economic Papers: A journal of applied economics and policy
Volume 28, Issue 2, pages 155–168, June 2009
How to Cite
Hodgkinson, A. and Valadkhani, A. (2009), Community Valuations of Environmental Quality in Coastal Lakes: Lake Illawarra Case Study. Economic Papers: A journal of applied economics and policy, 28: 155–168. doi: 10.1111/j.1759-3441.2009.00019.x
- Issue published online: 1 OCT 2009
- Article first published online: 1 OCT 2009
- hedonic pricing model;
- environmental evaluation;
- water bodies
This is the first Australian study to apply the hedonic pricing method to value environmental quality of an urban water body. It demonstrates the technique using a case study of a degraded urban lake that is currently undergoing a programme of water quality restoration and foreshore improvements. The results show that the community places significant value on proximity to the lake and on waterfront location. A range of other data was also generated that adds to the usefulness of this approach for general planning purposes. It is suggested that this technique would be a useful tool to aid in the allocation of public funds among competing environmental improvement projects.