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Contingent Valuation and Lost Passive Use: Damages from the Exxon Valdez Oil Spill
Carson, R.T., et al. 2003. "Contingent Valuation and Lost Passive Use: Damage from the Exxon Valdez Oil Spill," Environmental and Resource Economics 25: 257-286.
Abstract
We report on the results of a large-scale contingent valuation (CV) study conducted after
the Exxon Valdez oil spill to assess the harm caused by it. Among the issues considered are the design
features of the CV survey, its administration to a national sample of U.S. households, estimation of
household willingness to pay to prevent another Exxon Valdez type oil spill, and issues related to
reliability and validity of the estimates obtained. Events influenced by the study's release are also
briefly discussed.