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National Center for Environmental Economics
Environmental Economics Reports
The purpose of this study was to assess the benefits of RCRA regulations, comparing the results before and after new regulations at two existing hazardous waste sites previously regulated under California state law. The "good" site was in Casmalia, and the "bad" site was in Simi Valley. Benefits were computed based on the expected value model of the probability that a given scenario would occur and the damages avoided (due to regulation) under that scenario. Damages avoided were estimated for the two sites for sudden and non-sudden occurrence scenarios for three levels of severity. Conclusions and recommendations were made.
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