The Economics of a Disaster - The Exxon Valdez Oil Spill

The Economics of a Disaster represents a major contribution to the understanding of the economics of liability and damages. It is based on the assumption that if people know they can be held responsible for some or all of the costs or damages sustained in an environmental accident, they will change their behavior to make the accident less likely to occur or to reduce the damages should it occur. The work develops a framework to examine and measure changes in market conditions after a disaster, showing the kinds of information that need to be collected and analyzed. Based on the Exxon Valdez case, this work provides an interesting framework for practitioners, specialists, and scholars in the fields of business, economics, law, and environmental studies.

List of contents

Figures and Tables
Acknowledgments
Introduction
The Effect of Disaster on Prices of Goods and Services: An Economic Framework
Measuring the Effect of the Exxon Valdez Oil Spill on Alaskan Seafood Prices
Industry Background
Qualitative Evidence Concerning Price Effects
Japanese Consumer Demand
Salmon Benchmark Studies
Salmon Reduced Form Study
Salmon Processor Prices
Non-salmon Species Studies
Supply Effects
Fishing Permit Values
Summary of Results
Conclusion
Appendix 1: A Brief Description of Statistical Terminology
Appendix 2: Modeling Japanese Consumer Demand
Appendix 3: Reduced Form Model for Alaskan Salmon
Appendix 4: Supply Effects
Selected Bibliography
Index

About the author

Bruce M. Owen, David A. Argue, Harold W. Furchtgott Roth, Gloria J. Hurdle, Gale Mosteller

Product details

• Authors: Argue David A., Furchtgott Roth Harold W., Gloria J. Hurdle, Hurdle Gloria J., Gale Mosteller, Mosteller Gale, Bruce M. Owen, Owen Bruce M.
• Publisher: Bloomsbury
• Languages: English
• Product format: Hardback
• Released: 20.10.1995
• EAN: 9780899309873
• ISBN: 978-0-89930-987-3
• Subjects: Social sciences, law, business > Business > Individual industrial sectors, branches; Nature / Environmental Conservation & Protection, BUSINESS & ECONOMICS / Environmental Economics, Environmental Economics, Pollution & threats to the environment, Pollution and threats to the environment, Current Events and Issues: Business