Lost Ecosystem Goods and Services as a Measure of Marine Oil Pollution Damages
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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- Richard Carson & Nicholas Flores & Norman Meade, 2001.
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- Boyd, James, 2007. "Nonmarket benefits of nature: What should be counted in green GDP?," Ecological Economics, Elsevier, vol. 61(4), pages 716-723, March.
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