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Option Wealth And Bequest Values: The Value Of Protecting Future Generations From The Health Risks Of Nuclear Waste Storage

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Author Info
Riddel, Mary
Shaw, W. Douglass
Abstract

We devise a simple model of intergenerational altruism under uncertainty. We present an estimable form of the model that relies on a few, plausible, assumptions. We apply the model to data collected in a survey of Southern Nevadans concerning the proposed Yucca Mountain Nuclear Waste Repository in Nye County, NV. We find strong evidence of a bequest motive. Approximately one third of the option wealth lost by households near the repository can be attributed to costs to future generations.

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Publisher Info
Paper provided by American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association) in its series 2002 Annual meeting, July 28-31, Long Beach, CA with number 19662.

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Date of creation: 2002
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Handle: RePEc:ags:aaea02:19662

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Keywords: Resource /Energy Economics and Policy;

References listed on IDEAS
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  1. Flores, Nicholas E., 2002. "Non-paternalistic altruism and welfare economics," Journal of Public Economics, Elsevier, vol. 83(2), pages 293-305, February. [Downloadable!] (restricted)
  2. Deacon, Robert T & Shapiro, Perry, 1975. "Private Preference for Collective Goods Revealed Through Voting on Referenda," American Economic Review, American Economic Association, vol. 65(5), pages 943-55, December. [Downloadable!] (restricted)
  3. Trudy Ann Cameron, 2002. "Individual Option Prices for Climate Change Mitigation," University of Oregon Economics Department Working Papers 2003-9, University of Oregon Economics Department, revised 20 Jul 2002. [Downloadable!]
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  4. Greenley, Douglas A & Walsh, Richard G & Young, Robert A, 1981. "Option Value: Empirical Evidence from a Case Study of Recreation and Water Quality," The Quarterly Journal of Economics, MIT Press, vol. 96(4), pages 657-73, November. [Downloadable!] (restricted)
  5. John B. Loomis & Pierre H. duVair, 1993. "Evaluating the Effect of Alternative Risk Communication Devices on Willingness to Pay: Results from a Dichotomous Choice Contingent Valuation Experiment," Land Economics, University of Wisconsin Press, vol. 69(3), pages 287-298. [Downloadable!] (restricted)
  6. Viscusi, W Kip, 1989. " Prospective Reference Theory: Toward an Explanation of the Paradoxes," Journal of Risk and Uncertainty, Springer, vol. 2(3), pages 235-63, September.
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This page was last updated on 2009-12-11.

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