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External Costs from Severe Accidents in Non-Nuclear Fuel Chains: Valuation of Relevant End-Points

  • Alistair Hunt
  • Ramon Ortiz
  • Anil Markandya
Conference paper

Abstract

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.

Keywords

Impact Category Contingent Valuation External Cost Welfare Impact Fatality Risk 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer-Verlag London 2004

Authors and Affiliations

  • Alistair Hunt
    • 1
  • Ramon Ortiz
    • 1
  • Anil Markandya
    • 1
  1. 1.University of BathClaverton DownUK

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