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What is Economic Value of Water

Chapter 10
Water-Soil-Plant-Animal Nexus in the Era of Climate Change
Monetary value of water which an individual consumer or group of consumers are willing to pay to receive water as per their need.
Published in Chapter:
A Case Study From Kanpur Nagar, Uttar Pradesh for Assessing the Economic Value of Water and Its Determinants
Ajay Kumar Singh (Department of Humanities and Social Sciences, Graphic Era University (Deemed), Dehradun, India) and Santosh Singh (Department of English, School of Liberal Arts and Management, DIT University, Dehradun, India)
Copyright: © 2024 |Pages: 31
DOI: 10.4018/978-1-6684-9838-5.ch010
Abstract
The chapter applied a willingness to pay ability (WPA) approach to estimate the economic value of drinking water (EVM) using primary data. The sample of 350 households are randomly taken from four wards of Kanpur Nagar, Uttar Pradesh (India). Simple OLS, probit, logit, and mixed-effect logit regression models are applied to examine the effect of social- economic variables on WPA of households to receive better water supply from suppliers. It found that the municipality is charging a very low price to provide water supply of 30 Kilolitre/household per month. However, implicit cost (IC) of water/household is found higher as compared to WPA. IC/household appeared high due to consumption of unsafe drinking water, and incidence of various waterborne health issues and diseases. Family size, occupation, and annual income showed a positive impact on WPA of households.
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