Environmental accidents and stigmatized fish prices: Evidence from the prestige oil spill in Galicia

Abstract

Assessing the economic damages and their temporal dimension caused by oil spills is very important. In the present paper, we analyze the stigma effect caused in fish markets, in the North West coast of Spain (Galicia) after the Prestige oil spill. Specifically, we focus on pelagic fish species which represent a relevant market share in Galicia. The results show that printed media surrounding the accident had a statistically significant role in the evolution of fish prices. Two types of stigma were found: temporal and geographical stigma. Our results conclude that there is persistence of environmental effects after the spill.

Estimating the Ex Ante Recreational Loss of an Oil Spill Using Revealed and Stated Preference Data

“…Both the travel cost method (e.g., English et al, 2018) and the hedonic pricing method (e.g., Cano-Urbina, Clapp and Willardsen, 2019) have been applied to estimate the use-value losses due to an oil spill. While the former tends to focus on impacts on local recreation, the latter has estimated the losses arising from oil spills in the housing market (Winkler and Gordon, 2013), fish prices (Domínguez Alvarez and Loureiro, 2013), or wages (Aldy, 2014).…”