An Accidental Oil Spill Along the Belgian Coast: Results from a Cv Study

28 Pages Posted: 28 Mar 2006

See all articles by Karl van Biervliet

Karl van Biervliet

ECOLAS

Dirk Le Roy

Catholic University of Leuven (KUL)

Paulo A. L. D. Nunes

University of Padova - Dipartimento Territorio e Sistemi Agro Forestali (TeSAF)

Date Written: March 2006

Abstract

This paper offers an economic assessment of the loss of non-use values resulting from different oil spill scenarios along the Belgian Coast. Estimation results show that if no oil spill prevention policy action is undertaken, a significant welfare loss may result. As a matter of fact, contingent valuation estimation results show such a welfare loss ranges from 120 million Euro to 606 million Euro, depending on the size and the frequency of the oil spill under consideration. Therefore, any investment program targeted at the prevention of oil spills, and its damage on the marine environment, can be clearly defended from a cost-benefit perspective as long as its cost is no higher than 120 million Euro.

Keywords: Oil Spill, Prevention Scenario, Contingent Valuation, Cost Benefit Analysis

JEL Classification: Q51, Q53, Q54, Q58

Suggested Citation

van Biervliet, Karl and Le Roy, Dirk and Dias Nunes, Paulo Augusto, An Accidental Oil Spill Along the Belgian Coast: Results from a Cv Study (March 2006). FEEM Working Paper No. 41.2006, Available at SSRN: https://ssrn.com/abstract=891785 or http://dx.doi.org/10.2139/ssrn.891785

Karl Van Biervliet (Contact Author)

ECOLAS ( email )

Lange Nieuwstraat 43
Antwerp, B-2000
Belgium

Dirk Le Roy

Catholic University of Leuven (KUL) ( email )

Oude Markt 13
Leuven, Vlaams-Brabant
Belgium

Paulo Augusto Dias Nunes

University of Padova - Dipartimento Territorio e Sistemi Agro Forestali (TeSAF) ( email )

Legnaro, Padova 35020
Italy

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