This book describes a methodology for imputing a monetary value to the loss in beach recreational services that would result from a hypothetical oil spill in the Georges Bank area off Massachusetts. It is a valuable resource for students interested in environmental studies.
Table of Contents
1. Perspective on the Problem 2. Introduction to the Case Study: Pollution Externalities Affecting Recreational Beaches on Cape Cod and Martha's Vineyard 3. The Hedonic Pricing Model 4. The Oil Spill Risk Analysis Model 5. Dealing with Risk and Uncertainty 6. The Econometric Analysis of the Hedonic Model 7. Combining the Results of the Hedonic Model and the Risk Analysis Model 8. Conclusions and Recommendations