An Accidental Oil Spill Along the Belgian Coast: Results from a CV Study
This paper offers an economic assessment of the loss of non-use values resulting from different oil spill scenarios along the Belgian Coast. Estimation results show that if no oil spill prevention policy action is undertaken, a significant welfare loss may result. As a matter of fact, contingent valuation estimation results show such a welfare loss ranges from 120 million Euro to 606 million Euro, depending on the size and the frequency of the oil spill under consideration. Therefore, any investment program targeted at the prevention of oil spills, and its damage on the marine environment, can be clearly defended from a cost-benefit perspective as long as its cost is no higher than 120 million Euro.
|Date of creation:||Mar 2006|
|Date of revision:|
|Contact details of provider:|| Postal: Corso Magenta, 63 - 20123 Milan|
Web page: http://www.feem.it/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Carson, R.T. & Mitchell, R.C. & Hanemann, W.M. & Kopp, R.J. & Presser, S. & Ruud, P.A., 1992. "A Contingent Valuation Study of Lost Passive Use Values Resulting From the Exxon Valdez Oil Spill," MPRA Paper 6984, University Library of Munich, Germany.
When requesting a correction, please mention this item's handle: RePEc:fem:femwpa:2006.41. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (barbara racah)
If references are entirely missing, you can add them using this form.