TY - GEN
T1 - Valuing the resilience of the electrical power infrastructure
AU - Perrings, Charles
AU - Larson, Elizabeth K.
AU - Maliszewski, Paul J.
PY - 2011
Y1 - 2011
N2 - The reliability of electrical power supply is amongst the ambient conditions that inform house purchase decisions in all major cities. Where there is sufficient variation in outages and infrastructural conditions across an urban system it is possible to use hedonic price functions to estimate people's willingness to pay for more reliability in power supply (or willingness to accept compensation for less reliability in power supply). We illustrate the approach using estimates from a hedonic valuation of the reliability of electrical power supply in Phoenix as a function of infrastructural characteristics, environmental conditions (vegetation in particular), and the interactions between the two. It infers the value of infrastructures that contribute, in different ways, to the likelihood of outages.
AB - The reliability of electrical power supply is amongst the ambient conditions that inform house purchase decisions in all major cities. Where there is sufficient variation in outages and infrastructural conditions across an urban system it is possible to use hedonic price functions to estimate people's willingness to pay for more reliability in power supply (or willingness to accept compensation for less reliability in power supply). We illustrate the approach using estimates from a hedonic valuation of the reliability of electrical power supply in Phoenix as a function of infrastructural characteristics, environmental conditions (vegetation in particular), and the interactions between the two. It infers the value of infrastructures that contribute, in different ways, to the likelihood of outages.
KW - hedonic pricing
KW - power infrastructure
KW - resilience
UR - http://www.scopus.com/inward/record.url?scp=79958778741&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=79958778741&partnerID=8YFLogxK
U2 - 10.1109/PSCE.2011.5772485
DO - 10.1109/PSCE.2011.5772485
M3 - Conference contribution
AN - SCOPUS:79958778741
SN - 9781612847870
T3 - 2011 IEEE/PES Power Systems Conference and Exposition, PSCE 2011
BT - 2011 IEEE/PES Power Systems Conference and Exposition, PSCE 2011
T2 - 2011 IEEE/PES Power Systems Conference and Exposition, PSCE 2011
Y2 - 20 March 2011 through 23 March 2011
ER -