ECONOMIC VALUATION OF WATER ACCORDING TO USE
DOI:
https://doi.org/10.32645/26028131.1248Keywords:
Economic valuation, Water, Water use, reviewAbstract
The paper reviews several scientific studies on the economic valuation of water and its importance in different contexts. Different methods used to measure the value of water are suggested, such as integrative valuation of ecosystem services, contingent valuation, revealed valuation, and assessment of willingness to pay for improvements in water quality. Being a review article a metadata analysis was performed in the Scopus platform where the words valuation, economic, water were used, restrictions were applied in relation to: periodicity from 2010 to the present, limited to environmental sciences, economics, econometrics and finance, biological sciences and agriculture; in the titles sciences of the whole environment, environmental management and ecological economics; the filtered language is English in which the scientific articles were written, the main objective is to systematize each of the 100 researches, a base document of consultation for future studies in economic valuation of water is structured. Descriptive analysis was applied using the "R" program, including bibliometrix and biblioshiny. The importance of considering water quality in the estimation of benefits is highlighted, since households are willing to pay more for better quality drinking water. It is mentioned that water quality varies according to perceptions and factors such as age, trust in the authorities, health problems and education. The amount of income in a family is not a determining factor in the willingness to pay for water-related ecosystem services; respondents with higher levels of education and higher incomes are willing to pay more. Studies on the economic valuation of water in different countries, such as China, the United States, the United Kingdom, Kenya and Canada, are reported; these studies use different methods to obtain data on the preferences and willingness to pay of local residents, and the results are used to inform water policy and management decisions. The main conclusion is that water valuations, whether for public, private or intermediate production use, will not have objective significance unless they are accompanied by policies and decision-making by local, sectional, provincial, national authorities and governments of the day that allow for equitable conservation and commercialization for both conservers and users.
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Copyright (c) 2023 MSc.Edison Fernando Campos Collaguazo, MSc. Geraldo Ariolfo Cuadrado Barreto
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