Category: Natural Resource Damages

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Cost Benefit News covers legal, academic, and regulatory developments pertaining to the valuation of environmental amenities and disamenities, such as clean air, trees, parks, congestion, and noise. We apprise the reader about ways in which costs and benefits are measured, and the results of empirical studies. We hope that this information will allow public and private organizations to comprehend the risks and benefits of various actions, help disputants to resolve conflicts equitably and efficiently, and improve the quality of public policies. We will only discuss issues related to the empirical quantification of private and social costs and benefits and damages, and summarize information from daily newspapers, academic journals, legal publications, court decisions, professional newsletters commissioned studies, and on-line services. This newsletter is dedicated to the principle that all policies place values upon life, liberty, and the pursuit of happiness. We believe that more information, explicit specification of assumptions, and rigorous analysis can help our society to better meet these ends. This site will increasingly serve, in conjunction with others, as a valuation database. We will include a wide range of studies, including non-environmental reports, because omission of a factor effectively values it at zero, and biases decisions. Heavy traffic has caused several site crashes. We are attempting to correct these problems. Apologies for any inconvenience.
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Category: Natural Resource Damages

Putting a Price on Global Environmental Damage

By CostBenefit on Oct 28, 2010 | In General, Natural Resource Damages, Ecosystem Valuation, Contamination Cost, Research Institute NGO NonProfit, Environmental Economics / Ecological Economics, Costs and Benefits, Opinion (Not Likely Ours EV&CBN), Press Release (May be biased), Free Report at Time of Entry

Global environmental damage caused by human activity in 2008 represented a monetary value of $ 6.6 trillion, equivalent to 11% of global GDP, calculates a study released October 5, 2010 by the UN-backed Principles for Responsible Investment (PRI) and the… more »

ConocoPhillips Company and Sasol North America Agree to Reimburse Costs for Calcasieu Estuary, Bayou Verdine Cleanup - Agreement will reimburse EPA Superfund over $4.5 million, resolve nearly $1.2 million in natural resource damages assessment costs

By CostBenefit on Oct 13, 2010 | In Water, Land + Water, Contaminated Properties, Legal, Fines, Companies,CSR,Business,Finance, South, Natural Resource Damages, Ecosystem Valuation, Contamination Cost, Costs and Benefits

The Department of Justice, the Environmental Protection Agency and the United States Attorney’s Office announced on October 13, 2010, the settlement of claims against ConocoPhillips Company and Sasol North America Inc. to resolve their liability to EPA u… more »

Cultural bias in contingent valuation of copper mining in the Commonwealth of Dominica

By CostBenefit on Oct 10, 2010 | In General, Land + Water, Latin America, Academic Study/Journal Article, Natural Resource Damages, Ecosystem Valuation, Contamination Cost, Contingent Valuation, Surveys,.., Environmental Economics / Ecological Economics, Costs and Benefits

Abstract: Cultural bias in contingent valuation exists if groups within a population have a cultural predisposition toward answering “no” or “yes” to questions which causes the population estimate of the WTP to be underestimated or overestimated. This… more »

The Challenge of Degraded Environments: How Common Biases Impair Effective Policy

By CostBenefit on Oct 5, 2010 | In Contaminated Properties, Academic Study/Journal Article, Preservation & Open Space, West, Natural Resource Damages, Ecosystem Valuation, Canada, Costs and Benefits, Socio-Political-Cognitive-Economics

Abstract: Economic activity can damage natural systems and reduce the flow of ecosystem services. The harms can be substantial, as our case studies vividly illustrate. Most degraded landscapes have at least some potential to be reclaimed. However, uncert… more »

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