The Economic Value of Riparian Corridors in Cornbelt Floodplains: A Research Framework

Document Type

Article

Journal/Book Title

The Professional Geographer

Publisher

Taylor & Francis Online

Publication Date

1-1-1989

Volume

41

Issue

3

First Page

337

Last Page

349

Abstract

A new research framework determines the economic value of riparian corridors in floodplains of the agricultural Midwest. Market mechanisms can fail to account for many positive attributes of riparian wetland ecosystems. Individual farmers frequently make socially inappropriate decisions regarding floodplain land-uses because the benefits accruing from wetlands, such as improved water quality and enhanced recreational activities, are public goods. A spatial economic model, based on willingness-to-pay procedures, assesses the apposite mix of agricultural/wetland land uses that compares the marginal value of natural riparian vegetation and agricultural production on rural Cornbelt floodplains. A simple case study illustrates the framework.

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