Document Type


Date of Original Version



Resource Economics


This paper examines the natural resource damage assessment regulations recently promulgated under CERCLA and their potential effectiveness. The regulations have a number of important characteristics, broad potential applicability, and their implementation has several novel features. For these reasons, the natural resource damage assessment regulations required by CERCLA potentially represent a major development in environmental policy. The regulations also may represent a major, and perhaps unprecedented, expansion of the use of economic incentives to control pollution. Examined within the paper are: the natural resource damage assessment framework provided by the Act, the conceptual and analytical underpinnings of the liability regulations developed to implement the Act, and the approach and institutional setting for administering the regulations

Creative Commons License

Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.