Natural resource damage assessment methods: Lessons in simplicity from state trustees

Research output: Contribution to journalReview article

Abstract

When natural resource damages are caused by releases of hazardous materials into the environment, government trustees must conduct Natural Resource Damage Assessments (NRDAs) to support claims to recover the value of lost or damaged resources. This article sets forth theoretical arguments that support efforts to develop unbiased simplified NRDA methods for use by government trustees and proposes a set of criteria that can be used to evaluate the quality of any such simplified method. The authors then describe the simplified methods being used by five states across the country, affording academic economists a rare view of the kinds of methods state agencies use in-house. The article evaluates those methods against the criteria set forth and discusses the potential of other nonstate-specific simplified NRDA methods (benefit transfer and Type A models) to do the job better. The new framework established can guide future research to design simplified methods that are less biased than the simplified methods currently in use by some states without compromising ease of implementation.

Original languageEnglish (US)
Pages (from-to)504-519
Number of pages16
JournalContemporary Economic Policy
Volume22
Issue number4
DOIs
StatePublished - Oct 1 2004

Fingerprint

natural resources
damages
hazardous material
Damage assessment
Natural resources
Simplicity
economist
resources
Values

ASJC Scopus subject areas

  • Business, Management and Accounting(all)
  • Economics and Econometrics
  • Public Administration

Cite this

Natural resource damage assessment methods : Lessons in simplicity from state trustees. / Ando, Amy W; Khanna, Madhu.

In: Contemporary Economic Policy, Vol. 22, No. 4, 01.10.2004, p. 504-519.

Research output: Contribution to journalReview article

@article{1502d3a2b8804b628c557b8b6d4ec451,
title = "Natural resource damage assessment methods: Lessons in simplicity from state trustees",
abstract = "When natural resource damages are caused by releases of hazardous materials into the environment, government trustees must conduct Natural Resource Damage Assessments (NRDAs) to support claims to recover the value of lost or damaged resources. This article sets forth theoretical arguments that support efforts to develop unbiased simplified NRDA methods for use by government trustees and proposes a set of criteria that can be used to evaluate the quality of any such simplified method. The authors then describe the simplified methods being used by five states across the country, affording academic economists a rare view of the kinds of methods state agencies use in-house. The article evaluates those methods against the criteria set forth and discusses the potential of other nonstate-specific simplified NRDA methods (benefit transfer and Type A models) to do the job better. The new framework established can guide future research to design simplified methods that are less biased than the simplified methods currently in use by some states without compromising ease of implementation.",
author = "Ando, {Amy W} and Madhu Khanna",
year = "2004",
month = "10",
day = "1",
doi = "10.1093/cep/byh037",
language = "English (US)",
volume = "22",
pages = "504--519",
journal = "Contemporary Economic Policy",
issn = "1074-3529",
publisher = "Wiley-Blackwell",
number = "4",

}

TY - JOUR

T1 - Natural resource damage assessment methods

T2 - Lessons in simplicity from state trustees

AU - Ando, Amy W

AU - Khanna, Madhu

PY - 2004/10/1

Y1 - 2004/10/1

N2 - When natural resource damages are caused by releases of hazardous materials into the environment, government trustees must conduct Natural Resource Damage Assessments (NRDAs) to support claims to recover the value of lost or damaged resources. This article sets forth theoretical arguments that support efforts to develop unbiased simplified NRDA methods for use by government trustees and proposes a set of criteria that can be used to evaluate the quality of any such simplified method. The authors then describe the simplified methods being used by five states across the country, affording academic economists a rare view of the kinds of methods state agencies use in-house. The article evaluates those methods against the criteria set forth and discusses the potential of other nonstate-specific simplified NRDA methods (benefit transfer and Type A models) to do the job better. The new framework established can guide future research to design simplified methods that are less biased than the simplified methods currently in use by some states without compromising ease of implementation.

AB - When natural resource damages are caused by releases of hazardous materials into the environment, government trustees must conduct Natural Resource Damage Assessments (NRDAs) to support claims to recover the value of lost or damaged resources. This article sets forth theoretical arguments that support efforts to develop unbiased simplified NRDA methods for use by government trustees and proposes a set of criteria that can be used to evaluate the quality of any such simplified method. The authors then describe the simplified methods being used by five states across the country, affording academic economists a rare view of the kinds of methods state agencies use in-house. The article evaluates those methods against the criteria set forth and discusses the potential of other nonstate-specific simplified NRDA methods (benefit transfer and Type A models) to do the job better. The new framework established can guide future research to design simplified methods that are less biased than the simplified methods currently in use by some states without compromising ease of implementation.

UR - http://www.scopus.com/inward/record.url?scp=7544235837&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=7544235837&partnerID=8YFLogxK

U2 - 10.1093/cep/byh037

DO - 10.1093/cep/byh037

M3 - Review article

AN - SCOPUS:7544235837

VL - 22

SP - 504

EP - 519

JO - Contemporary Economic Policy

JF - Contemporary Economic Policy

SN - 1074-3529

IS - 4

ER -