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on Resource Economics |
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Issue of 2008‒05‒24
three papers chosen by |
| By: | John C. Whitehead; Ben Poulter; Christopher F. Dumas; Okmyung Bin |
| Abstract: | We develop estimates of the economic effects of sea level rise on marine recreational shore fishing in North Carolina. We estimate the relationship between angler behavior and spatial differences in beach width using the Marine Recreational Fishing Statistics Survey and geospatial data. We exploit the empirical relationship between beach width and site choice by simulating the effects of (1) sea level rise on beach width and (2) beach width on angler site choice. We find that the welfare losses are potentially substantial, ranging up to a present value of $1.26 billion over 75 years. Key Words: marine recreational fishing, travel cost method, climate change, sea level rise |
| JEL: | Q51 |
| Date: | 2008 |
| URL: | http://d.repec.org/n?u=RePEc:apl:wpaper:08-09&r=res |
| By: | David Hoyos Ramos (Unidad de Economía Ambiental - Instituto de Economía Pública); Pere Riera Micaló (Universidad Autónoma de Barcelona); Javier Fernández Macho (Departamento de Economía Aplicada III); Carmen Gallastegui (Institute for Public Economics. University of the Basque Country); Dolores García (Departament d’Economia Aplicada. Universitat de les Illes Balears) |
| Abstract: | Developmental monetary benefits of coast artificialisation projects are rarely confronted with the environmental benefits that its conservation may entail. As a consequence, policy-makers often face decision making processes in which monetary benefits have to be balanced with physical impacts ending up in undervaluation or overvaluation of environmental aspects. Non-market valuation of coastal and marine resources is thus a growing concern in the assessment of cost-benefit analysis of coastal developmental projects. This paper attempts to estimate the effects on people’s utility of the potential environmental impacts of a new seaport in Pasaia, Spain. A choice modelling technique is proposed as a means of estimating marginal impacts for different environmental attributes of mount Jaizkibel, namely its landscape, flora, avifauna and seabed. The results from a multinomial logit model reveal that, on average, individuals would pay 1.39 euros for a one percentage protection of its landscape; 0.87 euros for protecting its flora; 0.68 euros for protecting its avifauna; and 0.63 euros for protecting its seabed. |
| Keywords: | choice modelling; environmental valuation; social welfare |
| JEL: | Q51 |
| Date: | 2008–05–19 |
| URL: | http://d.repec.org/n?u=RePEc:ehu:biltok:200802&r=res |
| By: | Brekke, Kjell Arne (Department of Economics, University of Oslo); Johansson-Stenman, Olof (Department of Economics, School of Business, Economics and Law, Göteborg University) |
| Abstract: | This paper attempts to bring some central insights from behavioural economics into the economics of climate change. In particular, it discusses (i) implications of prospect theory, the equity premium puzzle and time inconsistent preferences in the choice of discount rate used in climate change cost assessments, and (ii) the implications of various kinds of social preferences for the outcome of climate negotiations. Several reasons are presented for why it appears advisable to choose a substantially lower social discount rate than the average return on investments. It also seems likely that taking social preferences into account increases the possibilities of obtaining international agreements, compared to the standard model. However, there are also effects going in the opposite direction, and the importance of sanctions is emphasised.<p> |
| Keywords: | Behavioural economics; prospect theory; equity premium puzzle; social preferences; climate negotiations. |
| JEL: | D63 Q54 |
| Date: | 2008–05–19 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:gunwpe:0305&r=res |