Comparing Benefit Estimation Techniques: Residential Flood Hazard Reduction Benefits in Roanoke, Virginia

Abstract

This report is a product of the U.S. Army Corps of Engineers' Risk Analysis for Water Resources Investments Research Program. The purpose of this research was to evaluate the differences and potential strengths and weaknesses of different methods for evaluating consumers' willingness to pay for a public good, i.e., a flood hazard reduction project. Three methods are compared and contrasted both collectively and against the theory of revealed consumer preference. These methods are the Property Damages Avoided (PDA) approach, Hedonic Price Method (Land Price Analysis), and the Contingent Value Method (CVM).

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Document Details

Document Type
Technical Report
Publication Date
Mar 01, 1998
Accession Number
ADA349335

Entities

People

  • Brian Dietz
  • Eric Thunberg
  • Kevin O'grady
  • Kurt Stephenson
  • Leonard Shabman
  • Paul Driscoll

Organizations

  • United States Army Corps of Engineers

Tags

Communities of Interest

  • Biomedical
  • Energy and Power Technologies
  • Materials and Manufacturing Processes

DTIC Thesaurus Topics

  • Business Administration
  • Cognition
  • Environment
  • Environmental Protection
  • Flood Control
  • Flood Hazards
  • Floods
  • Governments
  • Investments
  • Psychology
  • Recreation
  • River Flooding
  • Statistical Analysis
  • Surveys
  • United States
  • Urban Areas
  • Water Resources

Readers

  • Computational Modeling and Simulation
  • Hydrologic Risk Analysis and Mitigation.
  • Industrial Economics