Economics

The Economics of Assessment

When habitats and wildlife are injured, people often lose the services these resources provide. Our job is to ensure that the public is compensated when they are unable to enjoy nature’s benefits.

Valuation

Because habitats provide numerous benefits, economic valuation can be quite complex. Learn about the economic methods we use to quantify injuies to the environment.

Habitat Equivalency Analysis

When conducting a [qtip:Natural Resource Damage Assessment|Investigation performed by trustees to identify injuries to natural resources caused by oil spills, hazardous substance releases, and grounding incidents in National Marine Sanctuaries, and plan restoration activities. The goal of NRDA is to restore natural resources and compensate the public for lost recreational use.], we often determine the amount of restoration required by conducting a Habitat Equivalency Analysis.

Economics

A perhaps less obvious impact of an oil spill is that people are unable to enjoy recreational fishing.
A perhaps less obvious impact of an oil spill is that people are unable to enjoy recreational fishing.

The Damage Assessment, Remediation, and Restoration Program (DARRP) restores natural resources injured during an oil spill, release of hazardous materials, or vessel grounding to fully compensate the public for losses. DARRP uses a variety of economic and natural science-based methodologies to assess these injuries. This injury assessment process is based on the understanding that functioning ecosystems provide multiple ecosystem services that support life and provide benefits to people across the nation.