英文摘要 |
This paper employs a two-stage hedonic rent approach to estimate the benefits of flood control in the Keelung River Basin and to calculate the benefitcost ratio of the Keelung River flood control project. The major findings of this study include: (1) The annual total benefit of reducing flooding probability from current levels to 0.5%, in terms of consumer surplus, is NT$ 9,866 million. (2) Assuming that the average life expectancy of houses in the flooding areas is 30 years, the annual consumer’s surplus estimated stays the same, and the discounting rates are 0.025, 0.05, 0.075, and 0.1, respectively. Then, the estimated total benefits of the Keelung River flood control project are NT$ 208,225million, NT$ 153,292 million, NT$ 117,682 million, and NT$ 93,747million, respectively. The estimated benefit-cost ratios are 2.87, 2.12, 1.62, and 1.29, respectively. |