Economic Valuation of River Systems

Economic Valuation of River Systems

New Horizons in Environmental Economics series

Edited by Fred J. Hitzhusen

The book applies benefit–cost analysis and a wide array of non-market and distribution economic valuation methods in ecologic context to determine the pay-off and distribution impacts of various infrastructure and water quality improvements to eight river systems in the Great Lakes region of the US. The generally positive results have important implications for public policy and future research.

Chapter 11: The Cuyahoga River Valley Initiative: Framing, Codification, and Preliminary Economic Analysis in an Urban River Corridor

Fred J. Hitzhusen, Sarah A. Kruse and Ashraf Abdul-Mohsen

Subjects: economics and finance, environmental economics, valuation, environment, environmental economics, valuation, water


11. The Cuyahoga River Valley initiative: framing, codification, and preliminary economic analysis in an urban river corridor Fred J. Hitzhusen, Sarah A. Kruse, Ashraf Abdul-Mohsen, Joana J. Ferreti-Meza, and Marc Hnytka INTRODUCTION As a capstone case for this book this chapter demonstrates the process of framing a set of critical issues in an urban river corridor, codifying supply and demand factors, outlining a research plan, and developing some preliminary hedonic and benefit transfer estimates to start the analysis and decision-making process. The framing, codification, and research phase subsets were developed under a seed grant from the Cleveland Foundation for the Cuyahoga County Planning Commission. The preliminary benefit transfer economic estimates were part of a class assignment for a course (AEDE 631) on benefit–cost analysis taught at The Ohio State University (OSU) by Professor Hitzhusen, autumn quarters 2004 and 2005 and the hedonic pricing estimates are from an MS thesis by Joana Ferreti-Meza. The Cuyahoga River, located in northeast Ohio, is probably best known as “the river that caught on fire” and started a major environmental movement in the United States. Since that time, as a result of various clean-up and restoration efforts river function has improved and now provides both local citizens and tourists with more attractive amenities for recreation, relaxation, and enjoying the scenery. However, much remains to be done to restore and enhance the river. The Cuyahoga Valley Initiative (CVI) is an ongoing effort to promote and improve the quality...

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