Thomas D. Crocker

TL;DR: In this article, the authors explore the implications of endogenous risk for the economic value of preventing groundwater contamination and consider the analytical implication of endogenous risks for five key building blocks frequently used to structure studies of groundwater valuation: the probability and the location of contamination, the exposed population, risk perceptions, and intertemporal issues.

TL;DR: In this article, a Contigent valuation approach is employed to estimate policy-relavant components of the ex ante economic values that recreationists attach to differing subjective probabilities of alternative atmospheric visibility levels at a wilderness location and at an urban location in Oregon.

TL;DR: In this paper, the authors examine the impact of adaptive self-protection on the value individuals attach to uncertain prospective environmental resources and conclude that the total value of reducing the supply uncertainty of a natural resource is reflected in both the individual's option price payments for collective provision and in his willingness to pay for adaptation through self protection.

TL;DR: Crocker and Tschirhart as discussed by the authors argue that the market undervalues wetland services because the associated costs and benefits accrue to more than just the owner of the land.

TL;DR: The concept of endogenous risk implies that an individual can privately influence many of the hazards he or she confronts as mentioned in this paper, which has profound impacts on environmental policy, which in the past has been driven by an assumption of exogenous risk.