An empirical analysis of life jacket effectiveness in recreational boating

Scott Farrow () and Douglas M. Larson
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Scott Farrow: UMBC
Douglas M. Larson: UC Davis

No 14-03, UMBC Economics Department Working Papers from UMBC Department of Economics

Abstract: The Deepwater Horizon well blow-out in 2010 in the U.S. Gulf of Mexico is a recent example of a major news and environmental event while the Exxon Valdez spill in 1989 is more distant with some similar characteristics. Previous work by the authors estimated the welfare loss from “passive use value” associated with gathering news. We replicate that approach here using similar Nielsen TV viewing data and find the characteristics of the story have a similar effect in both events but the key economic relationship to the price of time has changed. We discuss reasons for this finding, and suggestions for improvement.

Keywords: news; Gulf Spill; Valdez; welfare; television (search for similar items in EconPapers)
JEL-codes: D6 Q5 (search for similar items in EconPapers)
Pages: 14 pages
Date: 2014-09
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