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This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License
Article
Evaluation of Industrial Pollution by Means of Experimental Economics
Author(s)
Odysseas Kopsidas
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DOI:10.17265/2162-5263/2018.04.005
Affiliation(s)
Department of Industrial Management and Technology, University of Piraeus, Piraeus 18534, Greece
ABSTRACT
In this work, a methodological framework under the form of an
algorithmic procedure, including 28 activity stages and 6 decision nodes, has
been developed for evaluating environmental impact caused by industrial activities.
The main part of this procedure is a modification of the CVM (Contingent
Valuation Method), which is heavily relied on survey-based estimation of
WTP-WTA (Willingness To Pay/Accept, respectively). The survey may take place
either under a strictly controlled environment or in situ and as-is (“laboratory conditions” or “field conditions”, respectively, in
the terminology of experimental economics). Implementation of this methodology
is presented, referring to three cases of industrial pollution (in three
different sites) caused by: (i) a cement producing unit, (ii) an oil refinery
complex, and (iii) an industrialized small city with an intensively polluted
port, where several industrial units co-exist, all of them located in the
vicinity of Athens, Greece. The results are interpreted/discussed and
conclusions are drawn.
KEYWORDS
Environmental impact, WTP, WTA, industry relocation.
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