|
Assessing Household's Benefit from Flood Risk Reductionin Lower Chao Phraya River Basin |
|---|---|
| รหัสดีโอไอ | |
| Creator | Penporn Janekarnkij, Akarapong Untong, Santi Sanglestsawai, Kampanat Vijitsrikamol and Suwanna Sayrumyat |
| Title | Assessing Household's Benefit from Flood Risk Reductionin Lower Chao Phraya River Basin |
| Publisher | Center for Applied Economics Research (CAER), Faculty of Economics, Kasetsart University |
| Publication Year | 2558 |
| Journal Title | Applied Economics Journal |
| Journal Vol. | 22 |
| Journal No. | 1 |
| Page no. | p:1-25 |
| Keyword | economic benefit, flood risk, contingent valuation method, willingness to pay |
| ISSN | 0858-9291 |
| Abstract | This paper explores economic benefit for flood risk reduction of residents living in thecore economic zones of lower Chao Phraya River Basin, Thailand. Under the action planof integrated and sustainable flood mitigation in Chao Phraya River Basin, 4.29 millionhouseholds would become beneficiaries. Using contingent valuation method (CVM), thepotential benefit of flood risk reduction from this action plan is approximately THB 8.82billion 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 ofthe total potential benefits, if the plan were enacted. The finding reveals that household'sincome, flood risk reduction, and program acceptance are significant determinants toincrease WTP. Beneficiary pay mechanism such as flood protection fee or tax incorporatingdifferent income or different flood risk exposure on property should be considered in theflood management policy. This requires further studies on supporting regulations and laws. |
