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Marine Resource Economics >
Volume 06, Number 1, 1989 >
Please use this identifier to cite or link to this item:
http://purl.umn.edu/48500
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| Title: | On Estimating Compensation for Injury to Publicly Owned Marine Resources |
| Authors: | Edwards, Steven F.
Carlson, Cynthia |
| Keywords: | willingness-to-accept-compensation
natural resource damages
marine pollution
recreational fishing
contingent valuation method
public trust doctrine |
| Issue Date: | 1989 |
| Series/Report no.: | Marine Resource Economics
Vol. 6 No. 1 |
| Abstract: | It is well established that the public has the right to use certain marine resources, including fish stocks, beaches, and marine waters, for certain purposes, including recreational fishing. Rights in public resources are held "in trust" by federal and state governments for the public, both now and in the future. Given public rights, we not only argue that minimum willingness-to-accept-compensation (WTA) is the theoretically correct measure of economic damages when a publicly owned marine resource is injured, but that it is, in fact, feasible to measure WTA, and therefore, WTA should be used to estimate compensation. Two utility-theoretic
approaches for welfare analysis, which use Hausman's (1981) method and the contingent valuation method, are outlined. |
| URI: | http://purl.umn.edu/48500 |
| Identifiers: | 0738-1360 |
| Institution/Association: | Marine Resource Economics>Volume 06, Number 1, 1989 |
| Total Pages: | 16 |
| From Page: | 27 |
| To Page: | 42 |
| Collections: | Volume 06, Number 1, 1989
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