Methods of valuing environmental externalities

Chernick, Paul; Caverhill, Emily

doi:10.1016/1040-6190(91)90171-o

Cited by 18 publications

(5 citation statements)

References 1 publication

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“…• Many researchers in the field (and the authors of this report) think that direct damage estimates reflect the actual activity better than do indirect proxy values such as those put forth by Chernick and Caverhill (1991).…”

Section: Application Of Lave's Values To Asian Situationmentioning

confidence: 86%

“…But the marginal cost of control is probably lower than the true societal value of reducing an externality at the margin. Thus, the externality estimates generated through the use of the marginal cost of abatement are considered conservative (low) estimates of the actual marginal values of reducing the externalities (Chernick and Caverhill 1991). Nevertheless, the basic cost of c3ntrols in Asian countries, where air quality is much poorer and daily exposure to risk is much greater, may serve as an appropriate starting point in assessing damage costs.…”

Section: 32 Factors Related To Valuation Of Riskmentioning

confidence: 99%

“…As already discussed, the marginal cost of control is probably lower than the true societal value of reducing an externality at the margin. Thus, the externality estimates generateci through the use of the marginal cost of abatement are conservative (low) estimates of the actual marginal values of reducing the externalities (Chernick and Caverhill 1991). However, marginal benefits of control may never be known with absolute certainty, because:…”

Section: Studies On Monetizing Environmental Externalitiesmentioning

confidence: 99%

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Environmental externalities: Applying the concept to Asian coal-based power generation

Szpunar¹,

Gillette²

1993

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This report examines the concept of environmental externality. It discusses various factors-the atmospheric transformations, relationship of point-source emissions to ambient air quality, dose-response relationships, applicable cause-and-effect principles, and risk and valuation research that are considered by a number of state utilities when they apply the environmental externality concept to energy resource planning. It describes a methodology developed by Argonne National Laboratory for general use in resource planning, in combination with traditional methods that consider the cost of electricity production. Finally, it shows how the methodology can be applied in Indonesia, Thailand, and Taiwan to potential coal-fired power plant projects that will make use of clean coal technologies. • Improved valuation methods make the actual costsoftheseexternal impactseasier toestimate and more accurate.

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Section: Application Of Lave's Values To Asian Situationmentioning

confidence: 86%

Section: 32 Factors Related To Valuation Of Riskmentioning

confidence: 99%

Section: Studies On Monetizing Environmental Externalitiesmentioning

confidence: 99%

See 1 more Smart Citation

Environmental externalities: Applying the concept to Asian coal-based power generation

Szpunar¹,

Gillette²

1993

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“…Depth discussions on sources, effects, and the need to reduce air pollution due to the electric power generation are offered in many papers . Moreover, the last of these references presents a detailed description of environmental externalities evaluation, while Chernick and Caverhill analyzed 4 basic evaluation methods. In Holstein and Brands and Bernow et al, the effects of environmental externalities are discussed focusing the economic decisions on planning and operation of the electric power generation system.…”

Section: Methodsmentioning

confidence: 99%

A new approach to economic-emission load dispatch using NSGA II. Case study

Moraes

Bezerra

Rodríguez³

et al. 2018

Int Trans Electr Energ Syst

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Summary Economic‐emission load dispatch optimization problem is an essential task in power plants with internal combustion engines. In power plants, in addition to electricity, a lot of air pollution by exhaust gases is generated. There are many international standards that establish the permissible limits of different substances but still have not developed an expression to evaluate the environmental impact caused by all components of the exhaust gases as a whole. A new method to evaluate this impact is developed in this paper. The developed mathematical expression was called “emission index.” To get a better idea of the environmental impact of each type of engine, the “specific emission index”, which is the emission index divided by the power delivered by the engine. This paper also presents a mathematical model for a multiobjective optimization of economic‐emission load dispatch using nondominated sorting genetic algorithm II.

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“…For example, Massachusetts, New York, and California set disparate externality adders, none of which is closely tied to estimates of the economic benefits of abatement (see for example Ref. 19).…”

Section: Introductionmentioning

confidence: 99%

Economic Valuation of Air Pollution Abatement: Benefits from Health Effects

Cifuentes¹

1993

Annual Review of Energy and the Environment

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Methods of valuing environmental externalities

Cited by 18 publications

References 1 publication

Environmental externalities: Applying the concept to Asian coal-based power generation

Environmental externalities: Applying the concept to Asian coal-based power generation

A new approach to economic-emission load dispatch using NSGA II. Case study

Economic Valuation of Air Pollution Abatement: Benefits from Health Effects

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