The Utility of Non-Use Values in Natural Resource Damage Assessments

Abstract:     
Non-use values are frequently underestimated or ignored in natural resource damage assessments, despite the fact that there are significant social and economic benefits to assessing costs for lost non-use values. The regulations of the Department of the Interior, which bind some CERCLA trustees, create unusual barriers to the consideration of non-use values and are potentially vulnerable to a reasonableness challenge under Chevron v. NRDC. Trustees who are not bound by the DOI regulations should consider calculating and assessing non-use values because of the economic and social benefits of recognizing non-economic injury caused by the destruction or degradation of natural resources.

Number of Pages in PDF File: 19

Keywords: CERCLA, natural resource damages, damage assessments, Chevron

JEL Classification: K23, K32

Accepted Paper Series