Siting Environmentally Unwanted Facilities : Risks, Trade-Offs and Choices

by Quah, Euston; Tan, K. C.

• ISBN13: 9781858987101
• ISBN10: 1858987105
• Format: Hardcover
• Copyright: 2002-06-01
• Publisher: Edward Elgar Pub

Author Biography

Euston Quah is Associate Professor in the Department of Economics at the National University of Singapore.

Table of Contents

List of figures	ix
List of tables	xi
Preface	xii
Acknowledgements	xiv
PART I THE SITING DILEMMA
Introduction	3	(6)
The NIMBY problem	4	(4)
The structure of the book	8	(1)
Nature of NIMBY facilities	9	(10)
Origins and characteristics of NIMBY facilites	9	(5)
Classification of NIMBY facilities	14	(5)
PART II EXISTING SOLUTIONS AND ECONOMIC VALUATION
Conflict resolution instruments and general compensation	19	(10)
Conflict-resolution instruments	19	(7)
General compensation	26	(3)
Environmental valuation	29	(22)
Option values and irreversible development	29	(2)
Review of environmental valuation methods	31	(20)
PART III ALTERNATIVE SOLUTIONS AND AUCTIONS
Nature and types of auctions	51	(8)
Auctions and auction markets	51	(2)
Auctions and compensation	53	(1)
Winner's curse	54	(1)
The first-price sealed-bid auction auction and revenue equivalence	55	(4)
Review of compensation auction methods	59	(12)
Sealed-bid auction mechanisms	59	(6)
Voluntary auctions, siting lottery, and trade mechanisms	65	(6)
PART IV THE SITING PROCESS
Some experiments on compensation auction methods	71	(29)
Designing the experiment	71	(3)
Experimental results	74	(26)
Appendices A-E	95	(5)
Risk analysis and uncertainty	100	(10)
Risk and uncertainty	100	(1)
Expected utility	101	(4)
Fundamental risks	105	(1)
Loss mitigation	106	(2)
NIMBY and risks	108	(2)
Sequential multi-stage criteria for siting NIMBYs	110	(18)
Sequential multi-stage siting process	110	(1)
Review of site selection procedures	110	(4)
Implementation and the various decision stages	114	(14)
Conclusion	128	(31)
Conclusion and some limitations of the economic approach	128	(31)
Appendices F-G	132	(27)
Bibliography	159	(10)
Index	169