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Featuring real world examples of how risk information affects
public choices, The Economics of Environmental Risk expertly
demonstrates that policymakers need to consider how people learn
about those risks. Offering insights into examples such as
hazardous waste, radon, smoking, hurricanes and terrorist threats
over the past four decades, this intuitive book illustrates
environmental risks and the choices made to mitigate the potential
effects. Providing a deep dive into how public policies and
information affect private choices, this book highlights the
successes and failings of these choices, recognising how decisions
made can have an influence on the hazards that are faced. It also
focuses on important lessons to be learnt by officials providing
information on risk and designing policies for managing them.
Further consideration is also given to how experts understand these
risks and how the public interprets the information provided.
Scholars and students of public policy, risk analysis and
environmental and resource economics will value the useful examples
found in this informative volume. Policymakers in risk and
insurance, and risk management programs will also find this an
instructive guide on the ever-changing environmental risks we face.
The opening of the National September 11th Memorial and Museum in
2014 marks a new era of reflection toward enhancing homeland
security regulation in the United States. In the context of this
new era, it is necessary to consider how policy intended to
reinforce homeland security is evaluated.Benefit-Cost Analyses for
Security Policies describes how to undertake the evaluation of
security policies within the framework of benefit cost analysis and
offers a unique contribution to analysis of homeland security
regulations in the United States. The authors outline how
established procedures for benefit-cost analysis must adapt to meet
challenges posed by current security policy, through examining
specific security related regulations. The logic of risk
assessment, selection of a discount rate, valuation of travelers'
time when delayed due to screening, valuation of changes in risks
of injury or death, and impacts of terrorist events on the economy
as a whole are among the issues discussed. An outline of the
research and policy evaluation steps needed to build robust
benefit-cost methods to evaluate security related regulations in
the future is presented in the book. A series of examples is
offered to illustrate how new security regulations should be
reassessed to ensure resources are not wasted. Policy analysts will
benefit from the insight drawn on how to evaluate homeland security
regulation in the United States. Academic researchers interested in
homeland security policy evaluation will find this book valuable
and informative. Postgraduate students of public policy or applied
economics will find examples of the challenges in using the methods
of benefit-cost analysis in this new area for policy evaluation.
Contributors include: K. Boyle, C. Dockins, S. Farrow, A. Hashemi,
M. Jones-Lee, S. Kaul, M.E. Kahn, S. Kaul, X. Li, C. Mansfield,
K.E. McConnell, A. Rose, V. K. Smith, W.K. Viscusi, W. Wheeler
Estimating Economic Values for Nature presents, in one volume, a
collection of V. Kerry Smith's papers prepared over 25 years,
dealing with the theory and practice of non-market valuation for
environmental resources. Taken together, the papers explore the
conceptual basis, the implementation process and empirical
performance of all available methods of measuring economic values
for the services of nature and how these values are constructed
from people's choices. The issues discussed in this volume include
travel cost, recreation demand, averting behaviour, household
production, hedonic property value, hedonic wage and contingent
valuation methods. These essays describe what has been learned from
past benefit analysis, using meta-analysis, as well as the issues
at the frontiers of current research in the area. This important
volume will be welcomed by environmental and public economists, as
well as practitioners of cost-benefit analysis, as an authoritative
and comprehensive discussion of non-market valuation.
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