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Lost Ecosystem Goods and Services as a Measure of Marine Oil Pollution Damages

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  • Boyd, James

    ()
    (Resources for the Future)

Abstract

The paper addresses the definition and measurement of liability for marine oil pollution accidents. The economic value of lost or injured ecosystem goods and services is argued to be the most legally, economically, and ecologically defensible measure of damages. This is easier said than done, however. Calculating lost ecological wealth with any precision is an enormous scientific and economic undertaking. The paper proposes practical ways to improve our future ability to calculate such losses.

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File URL: http://www.rff.org/RFF/documents/RFF-DP-10-31.pdf
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Bibliographic Info

Paper provided by Resources For the Future in its series Discussion Papers with number dp-10-31.

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Date of creation: 20 May 2010
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Handle: RePEc:rff:dpaper:dp-10-31

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Web page: http://www.rff.org
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Related research

Keywords: environmental liability; ecosystem services; marine pollution;

This paper has been announced in the following NEP Reports:

References

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  1. Sanchirico, James N. & Wilen, James E., 2001. "A Bioeconomic Model of Marine Reserve Creation," Journal of Environmental Economics and Management, Elsevier, vol. 42(3), pages 257-276, November.
  2. Brent L. Mahan & BStephen Polasky & Richard M. Adams, 2000. "Valuing Urban Wetlands: A Property Price Approach," Land Economics, University of Wisconsin Press, vol. 76(1), pages 100-113.
  3. Boyd, James & Wainger, Lisa, 2003. "Measuring Ecosystem Service Benefits: The Use of Landscape Analysis to Evaluate Environmental Trades and Compensation," Discussion Papers dp-02-63, Resources For the Future.
  4. Robert J. Johnston & Gisele Magnusson & Marisa J. Mazzotta & James J. Opaluch, 2002. "Combining Economic and Ecological Indicators to Prioritize Salt Marsh Restoration Actions," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 84(5), pages 1362-1370.
  5. Ron Johnston, 2005. "On journals," Environment and Planning A, Pion Ltd, London, vol. 37(1), pages 2-8, January.
  6. Carson, Richard T & Flores, Nicholas A, 2000. "Contingent Valuation: Controversies and Evidence," University of California at San Diego, Economics Working Paper Series qt75k752s7, Department of Economics, UC San Diego.
  7. H. Spencer Banzhaf & James Boyd, 2012. "The Architecture and Measurement of an Ecosystem Services Index," Sustainability, MDPI, Open Access Journal, vol. 4(4), pages 430-461, March.
  8. Boyd, James, 2007. "Nonmarket benefits of nature: What should be counted in green GDP?," Ecological Economics, Elsevier, vol. 61(4), pages 716-723, March.
  9. Sanchirico, James N. & Wilen, James E., 1999. "Bioeconomics of Spatial Exploitation in a Patchy Environment," Journal of Environmental Economics and Management, Elsevier, vol. 37(2), pages 129-150, March.
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