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Assessing Household’s Benefit from Flood Risk Reduction in Lower Chao Phraya River Basin

Applied Economics Journal

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Title Assessing Household’s Benefit from Flood Risk Reduction in Lower Chao Phraya River Basin
 
Creator Janekarnkij, Penporn; Faculty of Economics, Kasetsart University, Bangkok, Thailand, 10900
Sanglestsawai, Santi; Faculty of Economics, Kasetsart University, Bangkok, Thailand, 10900
Vijitsrikamol, Kampanat; Faculty of Economics, Kasetsart University, Bangkok, Thailand, 10900
Sayrumyat, Suwanna; Faculty of Economics, Kasetsart University, Bangkok, Thailand, 10900
Untong, Akarapong; Public Policy Studies Institute, Chiang Mai University, Chiang Mai, Thailand, 50300
 
Subject economic benefit, flood risk, contingent valuation method, willingness to pay
D62, H23, H31, Q51
 
Description This paper explores economic benefit for flood risk reduction of residents living in the core economic zones of lower Chao Phraya River Basin, Thailand. Under the action plan of integrated and sustainable flood mitigation in Chao Phraya River Basin, 4.29 million households would become beneficiaries. Using contingent valuation method (CVM), thepotential benefit of flood risk reduction from this action plan is approximately THB 8.82 billion per year with an average willingness to pay (WTP) of THB 2,056 per household annually. The estimated benefit accrued to household residents in the study area is only part of the total potential benefits, if the plan were enacted. The finding reveals that household’s income, flood risk reduction, and program acceptance are significant determinants to increase WTP. Beneficiary pay mechanism such as flood protection fee or tax incorporating different income or different flood risk exposure on property should be considered in the flood management policy. This requires further studies on supporting regulations and laws.
 
Publisher The Center for Applied Economics Research (CAER)
 
Contributor —
 
Date 2016-05-20
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://www.tci-thaijo.org/index.php/AEJ/article/view/57250
 
Source Applied Economics Journal; Vol 22, No 1 (2015): June; 1-25
0858-9291
 
Relation http://www.tci-thaijo.org/index.php/AEJ/article/view/57250/47454
 
Rights Copyright (c) 2016 Applied Economics Journal
http://creativecommons.org/licenses/by-nc-nd/4.0