Monday, February 23, 2009

12. I believe that issues that involve some sort of environmental remediation are perfect for contingent valuation. For example, a project aimed at remediating river that has succumbed to industry waste or an initiative to save pristine forest from development. These are to easy quantify and analyze the benefit to cost ratio involved. One can determine whether it would worth saving a river, or the forest. What would be people’s willingness to spend to save the said environment?

18. Two examples of environmental issues that would not benefit from contingent would be the environmental justice or determining new standards for vehicle emissions. These are beyond the scope of determining whether they are worth saving or not. Environmental justice is the law that requires equitable treatment of all those affected by a new facility. More simply put, it is against the law to spare a new higher end community with an older run down neighborhood when building a highway. Both communities must be looked at and analyzed equally. And finally new standards are vehicles are those imposed by states, and are determined by other means rather than the cost benefit ratio to addressing the issue.

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