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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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Application of a value-based equivalency method to assess environmental damage compensation under the European Environmental Liability Directive

By CostBenefit on Feb 13, 2011 | In General, Water, Land + Water, Contaminated Properties, Legal, Fines, Europe, Academic Study/Journal Article, Beaches and Erosion, Ecosystem Valuation, Regulatory Analysis, Contamination Cost, Environmental Economics / Ecological Economics, Costs and Benefits

Abstract: The Environmental Liability Directive (ELD) establishes a framework of liability based on the ‘polluter-pays’ principle to prevent and remedy environmental damage. The ELD requires the testing of appropriate equivalency methods to assess the s… more »

Improving the recreational value of Ireland's coastal resources: A contingent behavioural application

By CostBenefit on Feb 13, 2011 | In General, Europe, Academic Study/Journal Article, Beaches and Erosion, Regulatory Analysis, Contingent Valuation, Surveys,.., Environmental Economics / Ecological Economics, Costs and Benefits, Recreation

Abstract: This paper measures willingness to pay (WTP) for public access to additional beach area and trail improvements to a coastal recreational site in the west of Ireland. The Contingent Behaviour model is used to measure the increased number of tri… more »

Valuing Beach Closures on the Padre Island National Seashore

By CostBenefit on Oct 1, 2010 | In Academic Study/Journal Article, Beaches and Erosion, Texas, Travel Cost Method, Environmental Economics / Ecological Economics, Costs and Benefits, Recreation, Free Report at Time of Entry

Abstract: George R. Parsons, Ami K. Kang, Christopher G. Leggett, and Kevin J. Boyle estimate the economic loss due to hypothetical beach closures on the Padre Island National Seashore on the Gulf Coast of Texas. They consider the closure of the entire p… more »

Compensatory Restoration in a Random Utility Model of Recreation Demand

By CostBenefit on Sep 27, 2010 | In Legal, Fines, Academic Study/Journal Article, Beaches and Erosion, Texas, Natural Resource Damages, Ecosystem Valuation, Regulatory Analysis, Costs and Benefits, Recreation

Abstract: Natural Resource Damage Assessment cases often call for compensation in non-monetary or restoration equivalent terms. In this article, we present an approach that uses a conventional economic model, a travel cost random utility model of site ch… more »

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