By National Research Council, Division on Earth and Life Studies, Environment and Resources Commission on Geosciences, Committee on Valuing Ground Water
Because water within the United country has now not been traded in markets, there isn't any significant estimate of what it'll fee if it have been traded. yet failing to set up floor water's value--for in situ makes use of corresponding to maintaining wetlands in addition to for extractive makes use of equivalent to agriculture--will bring about endured overuse and degradation of the nation's aquifers.
In Valuing flooring Water an interdisciplinary committee integrates the newest financial, criminal, and actual wisdom approximately floor water and strategies for valuing this source, making it understandable to decisionmakers curious about Superfund cleanup efforts, neighborhood wellhead security courses, water allocation, and different water-related administration concerns. utilizing the concept that of overall financial price, this quantity presents a framework for calculating the commercial worth of floor water and comparing tradeoffs among competing makes use of of it. integrated are seven case reviews the place ground-water valuation has been or can be utilized in decisionmaking.
The committee examines tendencies in ground-water administration, components that give a contribution to its worth, and matters surrounding ground-water allocation and criminal rights to its use. The e-book discusses fiscal valuation of normal assets and stories numerous valuation methods.
featuring conclusions, strategies, and learn priorities, Valuing flooring Water could be of curiosity to these fascinated with ground-water matters: policymakers, regulators, economists, legal professionals, researchers, source managers, and environmental advocates.
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Additional info for Valuing Ground Water: Economic Concepts and Approaches
The three-dimensional nature of aquifers is not generally well understood and is rarely considered in modeling for management applications. The condition and characteristics of a given aquifer are determined by the hydrologic cycle and by anthropogenic modifications in the hydrologic cycle. The Hydrologic Cycle The hydrologic cycle can be usefully depicted on both global and basinwide scales. In the global hydrologic cycle, water can be transferred from one location to another and transformed among the solid, liquid, and gaseous phases, but the total amount of water remains the same.
Flows or streams of value, such as use values which come from extraction, recur over time and contrast with stock values which are the value of an asset (or liability) which yields flows of value over time. Flow values and stock values are linked because a stream of values (costs or benefits) can be converted into an asset value by calculating the present discounted value of the flow. Failure to distinguish between the value of flows and the value of a stock or asset may result in double counting or other errors.
For example, although many states require permits to drill a new high-capacity well, they tend to grant such permits on a routine basis, neglecting the broad range of values at stake. Management decisions have traditionally been made by comparing the direct financial costs of various alternatives, without taking into account the impacts on the full set of values of ground water. This tendency to consider only financial costs limits the usefulness of the underlying calculations for cost-benefit analysis.