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Navid Haider
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One interesting thing that caught my attention was that the individuals who had visited the Mayan ruins were willing to pay significantly more than those who did not visit any ruins, despite the survey being primarily about marine conservation. I'm kinda curious as to why this correlation persists.Seeing the mayan ruins might have triggered some kind of positive emotion which prompted individuals to be more caring (seemingly because they were ready to pay more money).On the contrary, I wonder what would have happened if a group of respondents were presented with a grim survey which would contain picture of dead coral reefs. I assume that it would impact the individuals assessment of the perceived danger to reef and maybe increase Marginal willingness to pay. I found a similar paper which uses the contingent valuation method but also includes measures of risk perception. http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.321.3530&rep=rep1&type=pdf
Although I agree with Coase's arguments on how defined ownership of property optimizes production, I am concerned with distributional equity especially in the context of developing countries. In the real world, the bargaining power of both parties are less likely to be equal. In case of most modern environmental problems, an organized corporation is more likely to be involved. Big, organized conglomerates have the power to influence decisions and would be more likely to exploit parties with less political and social capital. I do think government intervention is necessary in most modern environmental problems because the balance is tipped towards entities with more money. For example, in my hometown there was a problem regarding shrimp cultivation where the farm would negatively impact the nearby farmers. Shrimp cultivation generally involves putting saline water and therefore the nearby soil would face problems of salinity intrusion. Soil would be acidic and crops would not grow. But the shrimp exporters did not even want to negotiate with the farmers and just hired better lawyers to fight the case. The farmers eventually had to move and the shrimp business grew fast in the region. But even government intervention in this case would be biased simply because shrimp counts for 7% of the total GDP of my country. And when we count in the possibility of corruption and time-consuming judicial procedures, negotiation seems impossible in the such economies.
Navid Haider is now following Caseyj
Jan 16, 2020
Navid Haider is now following The Typepad Team
Jan 16, 2020