The valuation of environmental risks and hazardous waste policy

V. K. Smith, W. H. Desvousges

Research output: Chapter in Book/Report/Conference proceedingChapter

12 Scopus citations

Abstract

Raucher (1986) first drew attention to these issues by suggesting that in some cases ex ante actions to prevent groundwater contamination would not have been preferred to ex post corrective actions. Argues that Raucher's conclusions must be carefully qualified because his conceptual framework does not consider how risk affects individuals' valuations of the policies involved. By focusing primarily on the community's expected costs of alternative policies, his analysis assumes that each policy will yield equivalent services. Analysis suggests that benefit measures for policies involving risk from hazardous wastes or any other policy related risks may need to be constructed differently from the measures considered in conventional benefit-cost studies that assume certainty. -from Authors

Original languageEnglish (US)
Title of host publicationLand Economics
Pages211-219
Number of pages9
Volume64
Edition3
StatePublished - 1988
Externally publishedYes

ASJC Scopus subject areas

  • Environmental Science(all)
  • Earth and Planetary Sciences(all)
  • Medicine(all)

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    Smith, V. K., & Desvousges, W. H. (1988). The valuation of environmental risks and hazardous waste policy. In Land Economics (3 ed., Vol. 64, pp. 211-219)