the upper altamaha initiative:
fall 2005
economic valuation of water-related resources:
literature review on approaches for appraisal
Juan Harcha
Abstract
The Upper Altamaha Watershed is generously irrigated. Within its boundaries run two main rivers: Oconee and Ocmulgee, as well as many streams, and numerous creeks. Communities in the watershed depend on them for a wide range of undertakings from agriculture and urban development to recreation and even aesthetics. Studies show that water resource conditions not only impact closely associated activities such as fishing but also distant ones such as real estate prices. Nevertheless, decisions regarding water management are often made lacking outright knowledge about the economic effects they may give rise to. In light of this situation, a number of counties have asked for an instrument they can rely on for economic costs and benefits to be assessed and taken into consideration when adopting measures concerning water and water-related resources.
This project is intended to carry out a review of the different approaches to quantify the value of water and water-related resources according to the different uses they may have, thereby formulating a procedure for monetary measurement of benefits and costs involved in implementing or dismissing actions for protection. Literature on the topic will be examined in order to provide an overall conceptual framework, with a focus on the issues of water appraisal within the state of Georgia.
The final assessment will consist of a paper written to academic standard, and a power point presentation for quick and easy consultation.
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