Abstract
This paper contributes to the limited literature on the estimation of the total economic value of groundwater using a discrete choice experiment (DCE). An outline of theory and methodology is provided for the organization and application of experiments in the water sector, along with important references on optimizing outcomes and on utilizing previous valuation approaches into the design. The case study area was Viotia, Greece, and in particular the Asopos River basin aquifer, which has been in the center of international attention for the past 10 years, mainly owing to hexavalent chromium pollution. The research results give valuable insight to the respondents’ social profile and to issues valued most in cases of groundwater remediation, and perhaps more importantly to the willingness to pay for various remediation scenarios. In addition, the paper addresses other issues related to DCE, including econometric model appropriateness, selection, and comparisons; treatment of protest responses; and modeling of heterogeneity. The elicited values can be effectively used in policy making, natural resource damage assessment, and remediation planning.
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