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Monetized value of the environmental, health and resource externalities of soy biodiesel

Author

Listed:
  • Bhavik Bakshi

    () (Department of Chem. and Biom. Engineering, The Ohio State University)

  • Nathan Cruze

    () (Department of Statistics, The Ohio State University)

  • Tim Haab

    () (Department of Ag., Env., and Dev. Economics, The Ohio State University)

  • Matthew Winden

    () (Department of Economics, University of Wisconsin - Whitewater)

Abstract

This study monetizes the life cycle environmental damage, human health risk, and resource depletion externalities associated with the production and use of biodiesel fuels from soybean feedstock. Utilizing an integrated economic-environmental assessment framework that couples life cycle impacts and a conjoint choice experiment for social preference elicitation allows for a comprehensive comparison of petrodiesel and biodiesel’s external impacts. The results of the study reveal the production and consumption of soybean based biodiesels produce net improvements in environmental, health and resource impacts of $0.27 per gallon relative to petrodiesel for a 20% blend and $3.14 per gallon for a 100% blend.

Suggested Citation

  • Bhavik Bakshi & Nathan Cruze & Tim Haab & Matthew Winden, 2013. "Monetized value of the environmental, health and resource externalities of soy biodiesel," Working Papers 13-02, UW-Whitewater, Department of Economics.
  • Handle: RePEc:uww:wpaper:13-02
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    References listed on IDEAS

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    Cited by:

    1. Wang, Yihan & Chen, Chen & Tao, Yuan & Wen, Zongguo & Chen, Bin & Zhang, Hong, 2019. "A many-objective optimization of industrial environmental management using NSGA-III: A case of China’s iron and steel industry," Applied Energy, Elsevier, vol. 242(C), pages 46-56.

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    More about this item

    Keywords

    Valuation; Biodiesel; Externality; LCIA;
    All these keywords.

    JEL classification:

    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
    • Q51 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Valuation of Environmental Effects
    • Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling

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