Environmental Remedies Research Assignment Paper
The EPA and other governmental agencies are experimenting with new environmental remedies. One controversial remedy levies fines according to contingent valuation in which a cross section of individuals are asked how much it values particular resources. In other developments, companies are increasingly being required to pay for restoring the environment to the way it was before being damaged.
Respond: What are your thoughts on each approach outlined above? Do you believe they can be used together, or are they are mutually exclusive?
In regard to the remedy of asking a cross section of individuals about the manner ib which they value a particular product so that the results can be used to allocate fines is not a very effective method. The main reason is that the information does not represent everyone that uses that product. Therefore, there are very high chances that the information provided is biased, hence, it not qualify for use in a fair judgment on the amount of fine that should be paid on a particular product. Also, manufactures can cooperate with the people giving out the information and th
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