THE VALUE OF GEOLOGIC MAPS FOR KENTUCKY
The value to society of geologic maps has been calculated using the economic theory of public goods. As a public good, a geologic map contributes to society but is not a commodity like a TV or a car. Therefore, estimating its value is complex. This required 2000 questionnaires sent to professional geologists registered in Kentucky. The economic analysis was a cooperative effort of the Kentucky and Illinois geological surveys.
Analyses of the questionnaires showed the following: a.- 17 % was the average project costs saved because of existing geologic maps; b.- $27,776 was the minimum amount to collect geologic data if maps were not available; c.- $43,527 was the estimated amount saved because geologic maps were available; and d.- the amount users would voluntarily pay for a GQ was $342.
The value of GQs for Kentucky can be estimated from total map sales and the values from the economic analyses. The minimum value is $2.25 billion and the maximum is $3.35 billion. More than 100,000 Kentucky GQs have been sold making them the most popular of any survey publication.