Economic losses from marine pollution : a handbook for assessment

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Marine pollution causes significant damage to fisheries and other economically productive uses of the ocean. The value of that damage can be quantified by economists, but the meanings of those valuations and how they are derived are often obscure to non-economists.

Author Notes

Douglas D. Ofiara is assistant professor of public policy and management in the Muskie School of Public Service at the University of Southern Maine and a visiting scholar at the Institute of Marine and Coastal Sciences, Rutgers University
Joseph J. Seneca is University Vice President for Academic Affairs and professor of economics at Rutgers University

Reviews 1

Choice Review

Ofiara (Univ. of Southern Maine) and Seneca (Rutgers Univ.) have made an important and unique contribution to the literature. The goal of their book is to bridge the knowledge and communication gaps among economists, environmental researchers, and practitioners concerned with marine pollution. By creating an accessible single volume that links principles and applications, the authors have created a handbook that should become a model for emulation in other fields. Every chapter is meticulously researched, annotated, and filled with useful endnotes. Topics covered include economic valuation of marine damages, types of marine pollution and their biological and economic impacts, principles and methods for assessing economic damages, and economic techniques to measure changes in economic value. Real-world examples are introduced and discussed. The step-by-step methodology ensures that this book will find a home on the desks of students, scientists, attorneys, economists, and policy professionals. Because each of the 11 chapters can stand alone, readers can quickly access those materials needed to fill personal knowledge gaps. An essential addition to the collections of libraries supporting undergraduate and graduate studies in resource economics, marine affairs, and policy studies. Also required for law school library collections. W. S. Reed emeritus, Maine Maritime Academy

Preface	p. xiii
Part I. Background
Chapter 1. Introduction	p. 3
1.1. New Bedford Harbor	p. 3
1.1.1. The Economic Assessment	p. 6
1.1.2. Legal Settlement	p. 7
1.1.3. Cleanup and Restoration Actions	p. 8
1.1.4. Conclusion	p. 10
1.2. Introduction to the Book	p. 11
1.3. Public Policy and Economic Assessments	p. 12
1.4. Outline of the Book	p. 13
1.5. Note	p. 15
1.6. References	p. 16
Chapter 2. Primer on Welfare Economics and Environmental Economics	p. 19
2.1. Background	p. 19
2.2. Introduction to Welfare Economics	p. 20
2.2.1. Prices and Distortions	p. 21
2.2.2. Economic Value versus Economic Effects	p. 22
2.3. Ex Ante Versus Ex Post Economic Measures and Perspectives	p. 25
2.4. Introduction to Environmental Economics	p. 28
2.4.1. Externality Theory	p. 28
2.4.2. Economic Efficiency	p. 31
2.5. Glossary of Economic Terminology, Measures, and Methods	p. 32
2.5.1. Economic Terminology	p. 32
2.5.2. Economic Measures	p. 38
2.5.3. Economic Methods	p. 40
2.6. Notes	p. 42
2.7. References	p. 42
Chapter 3. Federal Legislation and Rulemaking: Marine Pollution and Economic Methods	p. 45
3.1. Introduction	p. 45
3.2. Federal Hazardous Substances Legislation	p. 45
3.2.1. Water Quality--Clean Water Act (CWA)	p. 46
3.2.2. Transportation and Ocean Dumping of Wastes (MPRSA [ODA])	p. 48
3.2.3. Brownfields--Contaminated Sites (CERCLA)	p. 49
3.2.4. Oil Spills (OPA)	p. 52
3.2.5. Toxic Substances (TSCA)	p. 53
3.2.6. Solid and Hazardous Wastes Disposal (RCRA)	p. 53
3.2.7. Food and Drugs	p. 54
3.3. Water Resource Development and River Basin Planning	p. 54
3.3.1. Introduction	p. 54
3.4. Federal Rulemaking	p. 55
3.4.1. Analysis of Federal Water Resource Projects	p. 55
3.4.2. Federal Economic Regulatory Analysis Procedures	p. 58
3.5. U.S. DOI Procedures for Natural Resource Damage Assessments	p. 60
3.5.1. Introduction	p. 60
3.5.2. U.S. DOI NRDA Rules and Procedures	p. 62
3.6. U.S. DOC (NOAA) Procedures for Natural Resource Damage Assessments	p. 72
3.6.1. Introduction	p. 72
3.6.2. NOAA NRDA Rules and Procedures	p. 73
3.7. Summary of Federal NRDA Rules and Procedures	p. 78
3.7.1. NRDA Procedures	p. 78
3.7.2. Future Issues	p. 80
3.7.3. Progress and Cases to Date	p. 80
3.8. National Estuary Program Overview	p. 81
3.8.1. Introduction	p. 81
3.8.2. Approach to Estuary Projects Under the NEP	p. 83
3.9. Notes	p. 84
3.10. References	p. 84
Chapter 4. Water Quality Degradations in Marine Environments: Impairments and Effects	p. 91
4.1. Introduction	p. 91
4.2. Identifiable Substances	p. 92
4.3. Types of Impairments	p. 93
4.4. Ecosystem Health and Productivity: Impacts on Organisms	p. 94
4.5. Present State of Marine Water Quality in the United States	p. 97
4.5.1. Historical Evidence of Occurrence of Hazardous Substances: Evidence from the National Status and Trends Program	p. 99
4.5.2. Unsafe Seafood and Fish Consumption Advisories	p. 101
4.5.3. Marine Debris and Floatable Waste	p. 102
4.6. References	p. 102
4.7. Further Reading	p. 105
Part II. Principles and Theory
Chapter 5. Economic Damages and Losses: Principles and Methods of Assessments	p. 113
5.1. Introduction	p. 113
5.2. Economic Measures	p. 114
5.2.1. Aggregate Economic Activity	p. 115
5.2.2. Economic Impacts	p. 115
5.2.3. Benefits in an Economic Welfare Context	p. 117
5.2.4. Benefits in a Cost-Benefit Analysis Context	p. 119
5.3. Economic Methods	p. 122
5.3.1. Present Value Analysis	p. 122
5.3.2. Economic Impacts: Economic Impact Analysis (Public Policy Analysis)	p. 126
5.3.3. Economic Impacts: Input/Output Analysis	p. 127
5.4. Economic Welfaree Measures: Consumption Sector	p. 129
5.4.1. Demand and the Concept of Economic Benefits	p. 129
5.4.2. Ordinary Consumer Surplus as a Benefit Measure	p. 131
5.4.3. Income and Substitution Effects of Price Changes	p. 133
5.4.4. Alternative Consumer Welfare Measures	p. 135
5.5. Economic Welfare Measures: Production Sector	p. 138
5.5.1. Profit as a Measure of Producer Welfare	p. 138
5.5.2. Alternative Producer Welfare Measures	p. 139
5.6. Economic Welfare Aggregation over Individual Consumers and Producers	p. 141
5.6.1. Private Sector/Goods Aggregation	p. 141
5.6.2. Public Sector/Goods Aggregation	p. 142
5.7. Economic Losses versus Impacts: Measuring Net Losses due to Marine Pollution	p. 143
5.8. Intertemporal Economic Losses	p. 152
5.9. Scope of Analysis, Federal Criteria, and Transfers	p. 153
5.9.1. Scope of Analysis	p. 153
5.9.2. Federal Criteria	p. 153
5.9.3. Transfers	p. 153
5.10. Economic Value in a Total Valuation Framework	p. 154
5.11. Simplified NRDAs (Natural Resource Damage Assessments)	p. 154
5.11.1. Introduction	p. 154
5.11.2. Economic Damage Assessments in Federal NRDAs	p. 155
5.12. Technical Appendix to Chapter 5: Exact Hicksian Welfare Measures	p. 157
5.13. Technical Appendix to Chapter 5: Economic Value in a Total Valuation Framework	p. 160
5.14. Technical Appendix to Chapter 5: Problem of Sequencing Losses or Gains in Economic Welfare Given Multiple (Substitute) Sites	p. 161
5.15. Note	p. 163
5.16. References	p. 163
Chapter 6. Identification of Biological Effects and Subsequent Economic Effects and Losses from Water Quality Impairments and Degradations in Marine Environments	p. 167
6.1. Introduction and Linkages	p. 167
6.1.1. Linkages	p. 168
6.2. Impairments in Marine Environments and Subsequent Economic Effects and Economic Losses	p. 170
6.2.1. Damage to Habitat	p. 170
6.2.2. Damage to Fish and Shellfish	p. 178
6.2.3. Damage to Birds, Mammals, Sea Turtles	p. 185
6.2.4. Damage to Public Health	p. 186
6.2.5. Damage to Beach Use	p. 190
6.2.6. Damage to Commercial and Pleasure Vessels	p. 192
6.2.7. Damage to Property Value	p. 192
6.3. References	p. 193
Chapter 7. Evaluation of Economic Techniques to Assess Economic Welfare Losses	p. 197
7.1. Introduction	p. 197
7.2. Direct Nonmarket Valuation Methods	p. 198
7.2.1. Contingent Valuation Approach	p. 198
7.2.2. Simulated Markets	p. 204
7.3. Indirect or Imputed Market Valuation Methods	p. 205
7.3.1. Travel Cost Approach	p. 205
7.3.2. Household Production Framework	p. 206
7.3.3. Travel Cost--Varying Parameter Model	p. 207
7.3.4. Hedonic Travel Cost Approach	p. 208
7.3.5. Random Utility Models	p. 209
7.4. Property Valuation Techniques	p. 211
7.4.1. Hedonic Price Approach	p. 212
7.4.2. Repeat Sales Approach	p. 215
7.5. Economic Methods to Value Morbidity and Mortality Health Effects	p. 217
7.5.1. Human Capital or Cost-of-Illness Approach	p. 217
7.5.2. Willingness-to-Pay or Contingent Valuation Approach	p. 218
7.5.3. Adjusted Health Value Approaches	p. 219
7.6. Market Valuation of Rents in the Production Sector	p. 220
7.7. Note	p. 221
7.8. References	p. 221
Part III. Applications
Chapter 8. Application of Economic Techniques to Assess Economic Losses: Examples	p. 233
8.1. Introduction	p. 233
8.2. Contingent Valuation Approach	p. 234
8.2.1. Application of the Contingent Valuation Approach	p. 234
8.2.2. Contingent Valuation Approach--Examples	p. 236
8.3. Travel Cost Approach	p. 240
8.3.1. Application of the Travel Cost Approach	p. 240
8.3.2. Travel Cost Approach--Examples	p. 243
8.4. Hedonic Price Approach	p. 251
8.4.1. Introduction	p. 251
8.4.2. Structure of Approach	p. 252
8.4.3. Hedonic Price Approach--Examples	p. 257
8.5. Repeat Sales Approach	p. 259
8.5.1. Introduction	p. 259
8.5.2. Structure of Approach	p. 259
8.5.3. Repeat Sales Approach--Economic Damage from PCB Contamination in New Bedford Harbor, Massachusetts	p. 261
8.6. Insights on Use of Benefits Transfer	p. 264
8.6.1. Future of Benefits Transfer	p. 267
8.7. Applications: A Caution	p. 268
8.8. Note	p. 268
8.9. References	p. 268
Chapter 9. Case Studies: Damage to Fish-Shellfish, Public Health, Beach Use, Property Value, and Impairments to Estuaries	p. 273
9.1. Introduction	p. 273
9.2. Damage to Fish-Shellfish	p. 274
9.2.1. Harvest Closures and Restrictions	p. 274
9.2.2. Mortality--Fish-Shellfish Kills	p. 275
9.3. Damage to Public Health	p. 276
9.3.1. Unsafe Seafood--Demand Effects	p. 276
9.4. Damage to Beach Use--Closures/Restrictions	p. 278
9.5. Damage to Property Value--Housing, Real Estate	p. 280
9.6. Detailed Assessments of Impairments to Resources or Improvements to Water Quality in Selected Estuaries in the U.S. EPA National Estuary Program	p. 281
9.6.1. Long Island Sound Study	p. 281
9.6.2. New York Bight Use Impairments	p. 285
9.6.3. Buzzards Bay Project--New Bedford Harbor Impairments	p. 301
9.6.4. Chesapeake Bay Program	p. 311
9.6.5. Delaware Estuary Program	p. 314
9.6.6. Narragansett Bay Program	p. 316
9.7. Conclusion	p. 317
9.8. Note	p. 319
9.9. References	p. 319
Chapter 10. Restoration of Coastal Wetlands, the Role of Trustees, and Scaling Restoration Projects	p. 325
10.1. Introduction	p. 325
10.2. Insights on Wetlands Restoration Efforts	p. 326
10.2.1. Factors and Considerations Based on NOAA-NRDA Rules	p. 327
10.2.2. Parameters and Criteria in Evaluations of Wetlands Restorations	p. 327
10.2.3. Restoration of a Coastal Salt Marsh--Exxon Bayway Arthur Kill Oil Spill	p. 328
10.3. Insights on Overseers and Trustees in Restoration Efforts: Their Role, Arrangement, and Lifespan	p. 332
10.4. Insights on Scaling Restoration Projects and Determining Optimal Size	p. 333
10.4.1. Resource-to-Resource or Service-to-Service Scaling Approach	p. 334
10.4.2. Valuation Scaling Approach	p. 336
10.4.3. Further Insights in Scaling Projects	p. 336
10.5. References	p. 340
Chapter 11. Policy Options and Future Directions: Effectiveness of Liability Rules and Future Directions for the NRDA Process	p. 345
11.1. Introduction	p. 345
11.2. Use of Liability Rules in Controlling Random Pollution Events	p. 345
11.3. The Effect of Risk and Uncertainty in Liability Rules and Outcomes	p. 346
11.4. Future Directions in NRDA and Assessing Losses from Marine Pollution	p. 347
11.5. Note	p. 348
11.6. References	p. 348
Appendix A. NOAA's Damage Assessment and Restoration Program Settlements and Restoration Status (as of May 4, 1998)	p. 351
Appendix B. Benefits Measures	p. 371
Index	p. 381

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