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Fundamental Issues in Natural Resource Damage Assessments
Natural Resource Law Journal (1988)
This paper examines the legal and economic implications of adopting various methods of assessing natural resource damages as required by CERCLA. Within the context of the preferences of two stylized political actors-environmentalists and industrialists-we show that the magnitude of damages assessed is quite sensitive to the method chosen and, by extension, to the choice of valuation criteria underlying a given method. The important legal implication is that the debate over which method or methods are "correct" can only be settled after a consensus is reached on what the appropriate valuation criteria and the appropriate aggregation rule to reflect public preferences are.
Publication Date
October, 1988
Citation Information
PETER NAVARRO. "Fundamental Issues in Natural Resource Damage Assessments" Natural Resource Law Journal Vol. 28 (1988)
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