use of economic analysis in valuing natural resource damages
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use of economic analysis in valuing natural resource damages

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Published by Ocean Assessments Division, Office of Oceanography and Marine Services, National Ocean Service, National Oceanic and Atmospheric Administration, U.S. Dept. of Commerce in [Washington, D.C.] .
Written in English

Subjects:

  • Damages -- Economic aspects.,
  • Liability for environmental damages -- Economic aspects.,
  • Natural resources.

Book details:

Edition Notes

StatementEdward J. Yang, Roger C. Dower, Mark Menefee ; Environmental Law Institute.
ContributionsDower, Roger C., Menefee, Mark., Environmental Law Institute., United States. Ocean Assessments Division.
The Physical Object
Paginationix, 154 p. :
Number of Pages154
ID Numbers
Open LibraryOL15150088M

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  Assessing natural resource damages often requires the use of nonmarket valuation techniques that were developed for use in benefit-cost analyses. Natural resource damage assessment dramatically changes the context for applying them. Two aspects of this context are especially by: Assessing natural resource damages often requires the use of nonmarket valuation techniques that were developed for use in benefit-cost analyses. Natural resource damage assessment dramatically changes the context for applying them. Two aspects of this context are especially important. First, damages are to be measured by the monetary value of the losses people experience, including their use.   In unfortunate instances like these, before parties can come to such settlements, they must first agree on a reasonable method of assigning value to natural resource damage. Providing such an accurate estimate of economic damages for the purposes of a dispute involving natural resource degradation can be a challenging task for an expert witness. A Manual for Conducting Natural Resource Damage Assessment: The Role of Economics " ES.2 AN OVERVIEW OF NATURAL RESOURCE DAMAGE ASSESSMENT Chapters 1 and 2 provide a general overview of the role of economics in damage assessment. Chapter 1 defines important concepts within damage assessment, and notes that.

This Deskbook provides a comprehensive survey of the law, science, and economics involved in natural resource damage assessment. Written by experts in the field, this second edition of the Natural Resource Damage Assessment Deskbook provides the most up-to-date analysis of the subject available. It thoroughly examines the framework for liability and the goals of the federal statutes . Natural Resource Valuation Assessing damages to the environment can be a difficult and controversial task. The conceptually simple task of valuing the economic value of direct use of natural resources such as consumption of fish and game, use of wood for firewood, construction or furniture, and use of.   The Comprehensive Guide to Economic Damages, 5th Edition edited by Nancy J. Fannon and Jonathan M. Dunitz, bridges the gap between the economics in damages cases and what the courts say about the calculations and evidentiary requirements. It provides a deep and rich resource, found nowhere else, for financial experts and attorneys seeking guidance on damage calculations. What damages may be sought? The cost or value to make the public whole for their losses of natural resources caused by the release of hazardous substances and/or petroleum products The cost or value to “restore, rehabilitate, replace, or acquire the equivalent” of the injured natural resource .

something. In fact, the economic view of value actually includes many components that have no commercial or market basis (Freeman, a; Krutilla, ), such as the value that individuals place on the beauty of a natural landscape or the existence of a species that has no commercial value. Review Valuing or pricing natural and environmental resources? Yaoqi Zhanga,*, Yiqing Lib a School of Forestry and Wildlife Sciences, Auburn University, AL , USA b Department of Ecology, Evolution and Natural Resources, Rutgers University, New Brunswick, NJ , USA Abstract This paper is a critique on contemporary non-market valuation study. COMPENSATORY DAMAGES Natural Resources – Damages, injury to loss ofand use of natural resources including reasonable costs of assessment (i.e. Fishing Grounds). 2. Real or Personal Use – Damages for injury to, or economic losses resulting from destruction of property. 3. Subsistence – Claimant who subsists on natural resources.   The direct method of measuring damages (contingent valuation) is described by William Schulze. Damages to a natural resource is the sum of losses in use and nonuse values resulting from injury to the quantity or quality of service flows from the natural resource.