149758 20251017144548.0 doi 10.1002/2013WR014085 sideral 103111 ART-2014-103111 eng Angulo, Ana Universidad de Zaragoza (orcid)0000-0003-4719-1345 Economic analysis of the water demand in the hotels and restaurants sector: shadow prices and elasticities 2014 Access copy available to the general public Unrestricted Despite the growing economic importance of tourism, and its impact on relative water shortage, little is known about the role that water plays in the productive process of hotels and restaurants and, therefore, the possible implications of water demand management policy for this sector. This study aims to fill this gap. It is based on the microdata of 676 firms in the sector, operating in the city of Zaragoza (Spain) for a 12 year period. Based on the Translog cost function, we estimate the shadow price of water in the short run and, from a long-run perspective, its direct price elasticity, its cross elasticities relative to labor, capital, and supplies, and its elasticity with respect to the level of output. The results obtained show that water provides sector firms returns that are on average higher than its price, although in the case of hotels the margin is really narrow. This situation provides policy makers with a margin for applying price increases without affecting the sector's viability, with some caution in the case of hotels. Water demand elasticity equals -0.38 in the case of hotels, but it is not significant in the case of restaurants and bar-cafes; hence, only in hotels is there potential for influencing water use patterns, encouraging the resource's conservation through pricing policy. Moreover, capital is a substitutive factor of water, and the elasticity of water with respect to output is 0.40, all of which should also be considered by policy makers in water resource management. info:eu-repo/semantics/openAccess All rights reserved http://www.europeana.eu/rights/rr-f/ 3.549 2014 ENVIRONMENTAL SCIENCES 29 / 222 = 0.131 2014 Q1 T1 WATER RESOURCES 3 / 83 = 0.036 2014 Q1 T1 LIMNOLOGY 2 / 20 = 0.1 2014 Q1 T1 info:eu-repo/semantics/article info:eu-repo/semantics/acceptedVersion Atwi, Majed Universidad de Zaragoza (orcid)0000-0001-5983-6804 Barberán, Ramón Universidad de Zaragoza (orcid)0000-0002-9929-2765 Mur Lacambra, Jesús Domingo Universidad de Zaragoza (orcid)0000-0002-7384-9166 4008 225 Universidad de Zaragoza Dpto. Estruc.Hª Econ.y Eco.Pb. Área Economía Aplicada 4000 415 Universidad de Zaragoza Dpto. Análisis Económico Área Fund. Análisis Económico 50, 8 (2014), 6577-6591 Water resour. res. WATER RESOURCES RESEARCH 0043-1397 362862 http://zaguan.unizar.es/record/149758/files/texto_completo.pdf Postprint 477769 http://zaguan.unizar.es/record/149758/files/texto_completo.jpg?subformat=icon icon Postprint oai:zaguan.unizar.es:149758 articulos driver 2025-10-17-14:10:51 ARTICLE