External Costs from Severe Accidents in Non-Nuclear Fuel Chains: Valuation of Relevant End-Points
The principal objective of this paper is to derive unit values that express the welfare impacts of accidents in the non-nuclear energy supply chain in monetary terms, and enable calculation of the external costs of such accidents. Thus, for a given welfare impact unit, (e.g. a work-place injury), we look to identify a monetary value that represents the willingness to pay (WTP) to avoid the impact or the willingness to accept (WTA) compensation to bear the injury. We suggest ranges of values for the following end-point impacts: (i) Mortality (with or without hospitalization) in accident; (ii) Morbidity — physical injury in accident; (iii) Mental trauma — from physical injury, evacuation; (iv) evacuation (costs of resettlementIaccommodation); (v) cleanup/repair costs and willingness to pay for recreationalI ecosystem losses — oil spills.
KeywordsImpact Category Contingent Valuation External Cost Welfare Impact Fatality Risk
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