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Estimating the Indirect Economic Costs to Shrimp Consumers from the 2010 Deepwater Horizon Gulf Coast Oil Spill

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  • Ellis, Addison
  • Kropp, Jaclyn D.
  • Norton, Michael T.

Abstract

In this paper, we estimate the indirect economic losses to U.S. shrimp consumers as a result of the 2010 Deepwater Horizon oil spill in the Gulf of Mexico. Using a combination of national fisheries market data and the results of an experimental auction, we identify three sources of economic damages to shrimp consumers: (1) higher prices paid by consumers for shrimp in 2010, (2) a loss of utility in the form of substituting consumption of preferred wild-caught Gulf shrimp with less-preferred substitutes, and (3) a loss in utility in the form of stigma attached to wild-caught Gulf shrimp.

Suggested Citation

  • Ellis, Addison & Kropp, Jaclyn D. & Norton, Michael T., 2013. "Estimating the Indirect Economic Costs to Shrimp Consumers from the 2010 Deepwater Horizon Gulf Coast Oil Spill," 2013 Annual Meeting, February 2-5, 2013, Orlando, Florida 142576, Southern Agricultural Economics Association.
    • Handle: RePEc:ags:saea13:142576
    DOI: 10.22004/ag.econ.142576
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    References listed on IDEAS

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    1. How much did the Gulf Oil Spill cost to shrimp consumers?
      by Economic Logician in Economic Logic on 2013-03-07 21:27:00

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