New Horizons in Environmental Economics series
Edited by Fred J. Hitzhusen
Chapter 2: Codification, Case Studies, and Methods for Economic Analysis of River Systems
2. Codiﬁcation, case studies, and methods for economic analysis of river systems Fred J. Hitzhusen CODIFICATION IN A SUPPLY-DEMAND CONTEXT The preceding chapter by Granata and Zika reviews the role of biology and the evolution of various classiﬁcation systems for rivers and streams over time and develops ecological engineering concepts for the restoration of riverine ecosystems. Fluvial systems are very complex and vary based on local climate, ﬂow (velocity and depth), geology, hydrology, morphology, productivity, and so on. Comparison of diﬀerent stream or river systems for restoration or conservation typically involves a classiﬁcation system that integrates physical and biological aspects, such as classifying running waters with similar physiographic conditions, classiﬁcation based on indicator ﬁsh or invertebrate species occurring in diﬀerent zones of the river system, the river continuum concept or viewing streams in a watershed content. Economic analysis of a river system requires classiﬁcation or codiﬁcation based on the principles of supply and demand. The supply side includes cost of production of various river system attributes and the demand side includes human preferences or willingness to pay (WTP) for attributes. Determining supply side factors includes identifying the hydrological, biological, and human-made infrastructure characteristics (for example, access points, parking, picnic facilities) of the river in question. On the other hand, demand-side factors require the identiﬁcation of individual characteristics and demographic traits (for example, income, education, values, recreation levels) that inﬂuence the WTP of individuals for river-based amenities, that is, recreation, water...
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