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Economic Losses from Marine Pollution a Handbook for Assessment :  A Handbook for Assessment - Douglas D. Ofiara

Economic Losses from Marine Pollution a Handbook for Assessment

A Handbook for Assessment

Hardcover Published: May 2001
ISBN: 9781559636094
Number Of Pages: 203

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Marine pollution causes significant damage to fisheries and other economically productive uses of the ocean. The value of that damage can be quantified by economists, but the meanings of those valuations and how they are derived are often obscure to noneconomists.Economic Losses from Marine Pollutionbrings a fuller understanding of the variety and extent of marine losses and how they are assessed to scientists, lawyers, and environmentalists by systematically identifying and classifying marine losses and relating them to models and methods of economic valuation. The authors use a step-by-step approach to show how economists have used these methods and how they approach the problem of assessing economic damage.The book begins by describing the importance of economic valuation of marine damages, the history of concern over marine pollution, and the development of economic methodologies to assess damage from it. Following that, the book: considers types of marine pollution and their effects on organisms, ecosystems, and humans, and the corresponding economic effects of those biological impacts introduces the economic principles and methods needed to understand and to assess economic damages expresses losses from water quality impairments in terms of economic value introduces the basic economic techniques that have been developed and used to measure changes in economic value discusses how to apply those economic techniques, and presents a variety of practical examples explores limitations and problems that can arise in such applied work.Economic Losses from Marine Pollutionincludes all of the relevant economic theory together with specific examples of how that theory has been and can be applied. It offers environmental professionals with little or no background in economics the basic economic tools needed to understand economic valuations of environmental damage, and represents a unique handbook for environmental and marine scientists, lawyers, economists, policy professionals, and anyone interested in issues of marine water quality.

Prefacep. xiii
Introductionp. 3
New Bedford Harborp. 3
The Economic Assessmentp. 6
Legal Settlementp. 7
Cleanup and Restoration Actionsp. 8
Conclusionp. 10
Introduction to the Bookp. 11
Public Policy and Economic Assessmentsp. 12
Outline of the Bookp. 13
Notep. 15
Referencesp. 16
Primer on Welfare Economics and Environmental Economicsp. 19
Backgroundp. 19
Introduction to Welfare Economicsp. 20
Prices and Distortionsp. 21
Economic Value versus Economic Effectsp. 22
Ex Ante Versus Ex Post Economic Measures and Perspectivesp. 25
Introduction to Environmental Economicsp. 28
Externality Theoryp. 28
Economic Efficiencyp. 31
Glossary of Economic Terminology, Measures, and Methodsp. 32
Economic Terminologyp. 32
Economic Measuresp. 38
Economic Methodsp. 40
Notesp. 42
Referencesp. 42
Federal Legislation and Rulemaking: Marine Pollution and Economic Methodsp. 45
Introductionp. 45
Federal Hazardous Substances Legislationp. 45
Water Quality--Clean Water Act (CWA)p. 46
Transportation and Ocean Dumping of Wastes (MPRSA [ODA])p. 48
Brownfields--Contaminated Sites (CERCLA)p. 49
Oil Spills (OPA)p. 52
Toxic Substances (TSCA)p. 53
Solid and Hazardous Wastes Disposal (RCRA)p. 53
Food and Drugsp. 54
Water Resource Development and River Basin Planningp. 54
Introductionp. 54
Federal Rulemakingp. 55
Analysis of Federal Water Resource Projectsp. 55
Federal Economic Regulatory Analysis Proceduresp. 58
U.S. DOI Procedures for Natural Resource Damage Assessmentsp. 60
Introductionp. 60
U.S. DOI NRDA Rules and Proceduresp. 62
U.S. DOC (NOAA) Procedures for Natural Resource Damage Assessmentsp. 72
Introductionp. 72
NOAA NRDA Rules and Proceduresp. 73
Summary of Federal NRDA Rules and Proceduresp. 78
NRDA Proceduresp. 78
Future Issuesp. 80
Progress and Cases to Datep. 80
National Estuary Program Overviewp. 81
Introductionp. 81
Approach to Estuary Projects Under the NEPp. 83
Notesp. 84
Referencesp. 84
Water Quality Degradations in Marine Environments: Impairments and Effectsp. 91
Introductionp. 91
Identifiable Substancesp. 92
Types of Impairmentsp. 93
Ecosystem Health and Productivity: Impacts on Organismsp. 94
Present State of Marine Water Quality in the United Statesp. 97
Historical Evidence of Occurrence of Hazardous Substances: Evidence from the National Status and Trends Programp. 99
Unsafe Seafood and Fish Consumption Advisoriesp. 101
Marine Debris and Floatable Wastep. 102
Referencesp. 102
Further Readingp. 105
Principles and Theory
Economic Damages and Losses: Principles and Methods of Assessmentsp. 113
Introductionp. 113
Economic Measuresp. 114
Aggregate Economic Activityp. 115
Economic Impactsp. 115
Benefits in an Economic Welfare Contextp. 117
Benefits in a Cost-Benefit Analysis Contextp. 119
Economic Methodsp. 122
Present Value Analysisp. 122
Economic Impacts: Economic Impact Analysis (Public Policy Analysis)p. 126
Economic Impacts: Input/Output Analysisp. 127
Economic Welfaree Measures: Consumption Sectorp. 129
Demand and the Concept of Economic Benefitsp. 129
Ordinary Consumer Surplus as a Benefit Measurep. 131
Income and Substitution Effects of Price Changesp. 133
Alternative Consumer Welfare Measuresp. 135
Economic Welfare Measures: Production Sectorp. 138
Profit as a Measure of Producer Welfarep. 138
Alternative Producer Welfare Measuresp. 139
Economic Welfare Aggregation over Individual Consumers and Producersp. 141
Private Sector/Goods Aggregationp. 141
Public Sector/Goods Aggregationp. 142
Economic Losses versus Impacts: Measuring Net Losses due to Marine Pollutionp. 143
Intertemporal Economic Lossesp. 152
Scope of Analysis, Federal Criteria, and Transfersp. 153
Scope of Analysisp. 153
Federal Criteriap. 153
Transfersp. 153
Economic Value in a Total Valuation Frameworkp. 154
Simplified NRDAs (Natural Resource Damage Assessments)p. 154
Introductionp. 154
Economic Damage Assessments in Federal NRDAsp. 155
Technical Appendix to Chapter 5: Exact Hicksian Welfare Measuresp. 157
Technical Appendix to Chapter 5: Economic Value in a Total Valuation Frameworkp. 160
Technical Appendix to Chapter 5: Problem of Sequencing Losses or Gains in Economic Welfare Given Multiple (Substitute) Sitesp. 161
Notep. 163
Referencesp. 163
Identification of Biological Effects and Subsequent Economic Effects and Losses from Water Quality Impairments and Degradations in Marine Environmentsp. 167
Introduction and Linkagesp. 167
Linkagesp. 168
Impairments in Marine Environments and Subsequent Economic Effects and Economic Lossesp. 170
Damage to Habitatp. 170
Damage to Fish and Shellfishp. 178
Damage to Birds, Mammals, Sea Turtlesp. 185
Damage to Public Healthp. 186
Damage to Beach Usep. 190
Damage to Commercial and Pleasure Vesselsp. 192
Damage to Property Valuep. 192
Referencesp. 193
Evaluation of Economic Techniques to Assess Economic Welfare Lossesp. 197
Introductionp. 197
Direct Nonmarket Valuation Methodsp. 198
Contingent Valuation Approachp. 198
Simulated Marketsp. 204
Indirect or Imputed Market Valuation Methodsp. 205
Travel Cost Approachp. 205
Household Production Frameworkp. 206
Travel Cost--Varying Parameter Modelp. 207
Hedonic Travel Cost Approachp. 208
Random Utility Modelsp. 209
Property Valuation Techniquesp. 211
Hedonic Price Approachp. 212
Repeat Sales Approachp. 215
Economic Methods to Value Morbidity and Mortality Health Effectsp. 217
Human Capital or Cost-of-Illness Approachp. 217
Willingness-to-Pay or Contingent Valuation Approachp. 218
Adjusted Health Value Approachesp. 219
Market Valuation of Rents in the Production Sectorp. 220
Notep. 221
Referencesp. 221
Application of Economic Techniques to Assess Economic Losses: Examplesp. 233
Introductionp. 233
Contingent Valuation Approachp. 234
Application of the Contingent Valuation Approachp. 234
Contingent Valuation Approach--Examplesp. 236
Travel Cost Approachp. 240
Application of the Travel Cost Approachp. 240
Travel Cost Approach--Examplesp. 243
Hedonic Price Approachp. 251
Introductionp. 251
Structure of Approachp. 252
Hedonic Price Approach--Examplesp. 257
Repeat Sales Approachp. 259
Introductionp. 259
Structure of Approachp. 259
Repeat Sales Approach--Economic Damage from PCB Contamination in New Bedford Harbor, Massachusettsp. 261
Insights on Use of Benefits Transferp. 264
Future of Benefits Transferp. 267
Applications: A Cautionp. 268
Notep. 268
Referencesp. 268
Case Studies: Damage to Fish-Shellfish, Public Health, Beach Use, Property Value, and Impairments to Estuariesp. 273
Introductionp. 273
Damage to Fish-Shellfishp. 274
Harvest Closures and Restrictionsp. 274
Mortality--Fish-Shellfish Killsp. 275
Damage to Public Healthp. 276
Unsafe Seafood--Demand Effectsp. 276
Damage to Beach Use--Closures/Restrictionsp. 278
Damage to Property Value--Housing, Real Estatep. 280
Detailed Assessments of Impairments to Resources or Improvements to Water Quality in Selected Estuaries in the U.S. EPA National Estuary Programp. 281
Long Island Sound Studyp. 281
New York Bight Use Impairmentsp. 285
Buzzards Bay Project--New Bedford Harbor Impairmentsp. 301
Chesapeake Bay Programp. 311
Delaware Estuary Programp. 314
Narragansett Bay Programp. 316
Conclusionp. 317
Notep. 319
Referencesp. 319
Restoration of Coastal Wetlands, the Role of Trustees, and Scaling Restoration Projectsp. 325
Introductionp. 325
Insights on Wetlands Restoration Effortsp. 326
Factors and Considerations Based on NOAA-NRDA Rulesp. 327
Parameters and Criteria in Evaluations of Wetlands Restorationsp. 327
Restoration of a Coastal Salt Marsh--Exxon Bayway Arthur Kill Oil Spillp. 328
Insights on Overseers and Trustees in Restoration Efforts: Their Role, Arrangement, and Lifespanp. 332
Insights on Scaling Restoration Projects and Determining Optimal Sizep. 333
Resource-to-Resource or Service-to-Service Scaling Approachp. 334
Valuation Scaling Approachp. 336
Further Insights in Scaling Projectsp. 336
Referencesp. 340
Policy Options and Future Directions: Effectiveness of Liability Rules and Future Directions for the NRDA Processp. 345
Introductionp. 345
Use of Liability Rules in Controlling Random Pollution Eventsp. 345
The Effect of Risk and Uncertainty in Liability Rules and Outcomesp. 346
Future Directions in NRDA and Assessing Losses from Marine Pollutionp. 347
Notep. 348
Referencesp. 348
NOAA's Damage Assessment and Restoration Program Settlements and Restoration Status (as of May 4, 1998)p. 351
Benefits Measuresp. 371
Indexp. 381
Table of Contents provided by Syndetics. All Rights Reserved.

ISBN: 9781559636094
ISBN-10: 1559636092
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 203
Published: May 2001
Publisher: ISLAND PR
Country of Publication: US
Dimensions (cm): 25.4 x 17.8  x 2.54
Weight (kg): 0.89