Estimating the Economic Costs of Hydrologic Data Collection
Rent the article at a discountRent now
* Final gross prices may vary according to local VAT.Get Access
This paper examines the estimation of the economic costs of hydrologic data collection using the concept of opportunity cost. The opportunity cost of operating a hydrologic data collection network is equal to the maximum value the resources used in its operation would have if they were free to be used in another area. A method for estimating the opportunity cost of operating individual stations is developed in this paper. This method is then demonstrated using representative opportunity cost estimates for individual stations in a hypothetical network based on the Victorian hydrologic data collection network, Australia. An important distinction is made between financial costs and economic costs, particularly with respect to their relative suitabilities for use in different applications.
- Cloke, P. S. and Cordery, I.: 1993, The value of streamflow data for storage design, Water Resour. Res. 29(7), 2371–2376.
- Matalas, N. C.: 1969, Optimum gauging station location, The Progress of Hydrology, Proceedings of the First International Seminar for Hydrology Professors, University of Illinois, 13–25 July 1969, Vol. 1, New Developments in Hydrology, Department of Civil Engineering, University of Illinois, pp. 473–489.
- Moss, M. E.: 1970, Optimum operating procedure for a river gauging station established to provide data for design of a water supply project, Water Resour. Res. 6(4), 1051–1061.
- Murti, V. N. and Sastry, V. K.: 1957, Production functions for Indian industry, Econometrica 25(2), 205–221.
- Pretto, P. B., McMahon, T. A., Atkins, A. S. and Goninon, T.: 1996, If the price is right – development of a methodology for valuing hydrologic data, 23rd Hydrology and Water Resources Symposium of the Institution of Engineers, Australia. HOBART 21–24 May, The Institution of Engineers, Australia, NCP No. 96/05, Volume 2, pp. 513–519.
- Ruprecht, J. K. and Chester, B. L.: 1994, Surface Water Resources Data Strategy for Western Australia, Surface Water Branch, Water Resources Directorate, Water Authority of Western Australia, December 1994.
- Snorrason, A.: 1994, The socio-economic costs and benefits of hydrological services, Conference on the Economic Benefits of Meteorological and Hydrological Services, Geneva, Switzerland: 19–23 September, Extended Abstracts of Papers, World Meteorological Organization, Geneva, WMO/TD – No. 630, pp. 17–20.
- Stubbs, P. C., Tyson, W. J. and Dalvi, M. Q.: 1980, Transport Economics, George Allen & Unwin, London.
- Wain, A. T., Atkins, A. S. and McMahon, T. A.: 1992, The Valuation of Benefits of Hydrologic Information, AWRAC Research Project P87/24, Centre for Applied and Environmental Hydrology, University of Melbourne.
- WMO/UNESCO: 1991, Report on Water Resources Assessment, World Meteorological Organization, January 1991, 64 pp.
- Estimating the Economic Costs of Hydrologic Data Collection
Water Resources Management
Volume 11, Issue 4 , pp 283-303
- Cover Date
- Print ISSN
- Online ISSN
- Kluwer Academic Publishers
- Additional Links
- hydrologic data collection
- economic cost
- opportunity cost
- financial cost
- present value
- Industry Sectors
- Author Affiliations
- 1. Department of Civil and Environmental Engineering, University of Melbourne, Parkville, Victoria, 3052, Australia
- 2. Hydrographic Services, Thiess Environmental Services, Woori Yallock, Victoria, 3139, Australia
- 3. Faculty of Architecture and Planning, University of Melbourne, Parkville, Victoria, 3052, Australia