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Cost Benefit Analysis and Ecology

Cost Benefit Analysis and Ecology. Valuing environmental benefits Market Value Travel cost/shadow prices Contingent Valuation/wtp problem Can CBA accommodate the precautionary principle? How does CBA account for future costs?. Back to values:

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Cost Benefit Analysis and Ecology

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  1. Cost Benefit Analysis and Ecology • Valuing environmental benefits • Market Value • Travel cost/shadow prices • Contingent Valuation/wtp problem • Can CBA accommodate the precautionary principle? How does CBA account for future costs?

  2. Back to values: David Broder (1990): "The argument is no longer about values. That’s over; and the environmentalists have won. The argument is now about policies. And those with the best evidence and the best arguments, not just the purest hearts, will prevail.” Do you agree?

  3. Private Law/Torts

  4. Private Law/Torts • Theories of liability • private nuisance • public nuisance • trespass • negligence • negligence per se • strict liability Private plaintiff(s) vs. private defendants Coordination, or free rider problems

  5. Madison v. Ducktown Sulphur (TN, 1901):

  6. Madison v. Ducktown Sulphur (TN, 1901): • smoke pollution from smelter  ruining timber and farming land in Appalachia • private nuisance action • Should court grant injunction? Damages?

  7. Madison v. Ducktown Sulphur (TN, 1901): • smoke pollution from smelter  ruining timber and farming land in Appalachia • private nuisance action • Should court grant injunction? Damages? • What factors matter? Who was there first? Relative benefits of competing land uses? “[S]hall we … grant [plaintiffs request] to blot out two great mining and manufacturing enterprises, destroy half of the taxable values of a county, and drive more than 10,000 people from their homes?”

  8. Tennessee Copper (USSC, 1907): • same smelter, same damage

  9. Tennessee Copper (USSC, 1907): • same smelter, same damage • public nuisance • Should court grant injunction? • No damages requested—why? • Should states have superior rights to private individuals in this situation?

  10. Missouri v. Illinois (USSC, 1906)

  11. Missouri v. Illinois (USSC, 1906) • Chicago pollution polluting Lake Michigan • City reversed river’s flow  Illinois River  Mississippi River  typhoid in St. Louis • No. of typhoid cases increased after flow reversed. Is Missouri entitled to injunction?

  12. Missouri v. Illinois (USSC, 1906) • Chicago pollution polluting Lake Michigan • City reversed river’s flow  Illinois River  Mississippi River  typhoid in St. Louis • No. of typhoid cases increased after flow reversed. Is Missouri entitled to injunction? • Missouri permits upstream Missouri towns to discharge raw sewage. Does that matter to the court? Should it matter?

  13. Spread of Environmental Values, post WWII • WHY? • industrialization  pollution? • developments in science of ecology? • liberal social movements • broadening prosperity? • leisure goods • post-materialism hypothesis • US vs. other industrialized democracies

  14. RISE OF PUBLIC LAW 1. Catalyzing Events Silent Spring  FIFRA Scenic Hudson  NEPA Cayuhoga River fire + Santa Barbara oil spill  CWA

  15. RISE OF PUBLIC LAW 1. Catalyzing Events 2. “Federalization” Common  State regulation  federal law regulation

  16. RISE OF PUBLIC LAW 1. Catalyzing Events 2. “Federalization” 3. Politics Industry vs. environmentalists Left vs. right STATUTES TIMELINE.doc

  17. NEXT TIME: Property rights and the limits of regulation

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